Cryptocurrency trader Ali Martinez is highlighting a top-20 altcoin built on the Ethereum (ETH) blockchain that is primed to skyrocket.
Martinez tells his 146,400 followers on the social media platform X that blockchain oracle Chainlink (LINK) could appreciate by around 138% from the current level.
“Chainlink still has a clear path to $46 as long as the $13 support level holds strong.”
Chainlink is trading at $19.37 at time of writing, up by nearly 40% over the past 30 days.
Turning to Bitcoin (BTC), the widely followed trader says the flagship crypto asset is in a “tough spot” as it is sitting on weak support while facing strong resistance.
“There’s a massive resistance wall at $117,000, while an air gap looms below, with little support between $113,000 and $108,000.”
Bitcoin is trading at $116,694 at time of writing.
Next up is the payments altcoins XRP (XRP).
According to Martinez, XRP “may be headed for a deeper correction” based on various metrics and indicators. Martinez says the Tom DeMark (TD) Sequential indicator, which is used to determine potential trend exhaustion and price reversal points, has flashed a sell signal for XRP on the three-day chart. Per the widely followed analyst, XRP could fall by over 25% from the current level to the next support zone.
“While the $3 zone has acted as support for XRP, on-chain data points to $2.80 as a temporary buffer, but real support begins below $2.48.”
XRP is trading at $3.33 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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