An altcoin connected to a popular viral game on Telegram is catching the attention of a well-known crypto strategist who is now turning bullish on its prospects.
In a recent update on X, analyst Ali Martinez shared with his 77,300 followers that Notcoin (NOT) could potentially surge by 100% from its current value.
“Notcoin is displaying a promising risk-to-reward setup. With a falling wedge pattern taking shape, it might be gearing up for a bullish breakout towards $0.012!”
A falling wedge breakout is a technical pattern used to identify potential bullish reversals in an asset’s price. This pattern consists of lower highs and lower lows forming a wedge shape on the chart.
As the pattern progresses, the gap between highs and lows decreases, indicating weakening selling pressure. A breakout above the upper trend line of the wedge is typically seen as a bullish signal.
At the time of writing, NOT is trading at $0.006, up by 7.9% in the last 24 hours.
Ali Martinez also expressed optimism about Ethereum (ETH), suggesting that it could reach $6,000 soon.
“The risk-to-reward ratio for Ethereum looks too attractive to ignore for a long position! I’ve set my stop below $1,880 and am targeting $6,000.”
Based on his analysis, the analyst suggests that ETH is holding the bottom trend line of the ascending channel as support and could potentially re-test the upper boundary around $6,100.
Furthermore, the analyst hints at a potential explosive rally for Dogecoin (DOGE), partly fueled by billionaire Elon Musk’s influence. Musk, a prominent supporter of the memecoin, has developed a relationship with US President-elect Donald Trump.
The analyst also points to a historical pattern for DOGE based on Fibonacci extensions, a tool used in technical analysis to forecast profit targets and price retracements based on Fibonacci ratios.
“With Elon Musk now influencing Donald Trump, Dogecoin could be in for a wild ride! In previous bull cycles, once DOGE surpassed the 0.50 Fibonacci retracement, it often surged to the 1.618 or even 2.272 Fib levels. If history repeats, we might witness DOGE reaching anywhere between $4 and $23!”
Currently, Dogecoin is trading at $0.1969, showing a 15% increase in the last 24 hours.
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Generated Image: Midjourney