A prominent crypto analyst and trader has highlighted the potential for a significant surge in one of the top-10 altcoins.
Ali Martinez, a crypto strategist with a substantial following of 65,700 on X, has suggested that Toncoin (TON), the native token of the layer-1 blockchain, could see its value rise by more than 19%.
“Toncoin is positioned to ascend towards $9 following a breakout from an ascending triangle!” Martinez proclaimed.
Source: Ali Martinez/X
As of the latest update, Toncoin is trading at $7.53, reflecting a decrease of 1.5% over the past 24 hours.
Moving on, Martinez cautioned about the potential for Bitcoin (BTC) to revisit lower price levels should it dip to $60,700.
“Stay cautious! A drop to $60,700 could lead to approximately $22 million in liquidations!” he warned.
Source: Ali Martinez/X
Nevertheless, Martinez also observed a potentially bullish pattern forming on Bitcoin’s hourly chart, contingent upon the primary digital asset reclaiming $62,200 as a support level.
“It appears Bitcoin is forming an Adam and Eve bottoming pattern, signaling a potential 6% rise towards $66,000 if it manages to close a candlestick above $62,200!” Martinez pointed out.
Source: Ali Martinez/X
At the time of writing, Bitcoin is trading at $60,882, down slightly more than 1% in the last 24 hours.
Finally, Martinez commented on Solana (SOL), noting indications from the Tom DeMark (TD) Sequential indicator suggesting a confirmation of an uptrend following a bullish trend reversal on June 25th.
“What did we say about Solana?” he teased.
Source: Ali Martinez/X
The TD Sequential indicator is commonly used to identify trend directions and potential reversals in price.
Solana is currently priced at $141, showing a decline of over 4% in the last 24 hours.
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