A well-known crypto analyst has shared optimistic price targets for Bitcoin (BTC) and updated his insights on several popular altcoins.
During a recent strategy session, crypto trader Ali Martinez informed his 139,200 followers on the social media platform X that Bitcoin, the top cryptocurrency by market capitalization, could potentially reach $118,000 – a new all-time high – if it manages to close above $109,000 on a daily basis.
“Despite the broader quarterly outlook discussed in this video, the daily chart for Bitcoin (BTC) looks promising. A daily close above $109,000 could pave the way for a rally towards $118,000!”
At the time of writing, BTC is trading at $109,644, showing a slight increase for the day.
Shifting focus to the smart contract platform Ethereum (ETH), Martinez suggested that more volatility could be expected until the leading altcoin closes outside the $2,227-$3,385 range.
“Rumors of a company adding an inflationary asset like ETH to its balance sheet have sparked bullish sentiment. However, I anticipate more volatility until we see a sustained close outside the $2,227-$3,385 range.”
ETH is currently valued at $2,579, showing a marginal increase for the day.
Regarding the meme token Dogecoin (DOGE), Martinez noted that the popular canine-themed cryptocurrency seems poised to rise to $0.19, with a potential target of $0.26 after rebounding from a low.
“Dogecoin has bounced from the lower boundary of its channel and is now eyeing $0.19, with a possible upside to $0.26.”
DOGE is currently trading at $0.17.
Wrapping up his analysis with Ethereum competitor Solana (SOL), Martinez mentioned that the smart contract platform could see gains if the crypto markets experience a breakout.
SOL is currently trading at $151, showing a slight decrease over the last 24 hours.
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