Cryptocurrency trader Ali Martinez is leaning bullish on Bitcoin (BTC) while offering his forecast for Ethereum (ETH) and Dogecoin (DOGE).
Martinez tells his 91,300 followers on the social media platform X that online searches for the keyword “Bitcoin” are in the bottom 50th percentile, suggesting low interest relative to the levels usually experienced at the height of bull markets.
[adinserter block="1"]“Investor sentiment remains subdued, far from euphoric—indicating Bitcoin may still have significant room to grow before reaching a market top.”
Bitcoin is trading at $97,450 at time of writing.
Next up is Ethereum. Martinez says that Ethereum could rally by around 67% from its current level over the medium term. Over the long term, the he says the top altcoin could go up by nearly 180% over the coming weeks, eclipsing its all-time high of around $4,900 reached in November of 2021.
Based on Martinez’s chart, it appears that Ethereum is in an ascending channel on the weekly time frame and the medium-term target price sits around the upper boundary of the channel. In technical analysis, an ascending channel consists of upward-sloping parallel trendlines and is an indication of a strong uptrend.
Ethereum is trading at $3,590 at time of writing.
Next up is Dogecoin. Martinez says that the flagship memecoin is at a “very critical resistance point.” The crypto analyst says that Dogecoin could plunge by up to 17% from current prices if it fails to convincingly cross above the major resistance area.
“A sustained break above $0.40 will send it to $0.43, but failing to clear the $0.40 resistance will trigger another dip to $0.36 or even $0.34!”
Dogecoin is trading at $0.41 at time of writing.
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