Cryptocurrency trader and analyst Ali Martinez says blockchain oracle Chainlink (LINK) could skyrocket by around 328% from the current level.
Martinez tells his 154,400 followers on X that Chainlink could explode to $100 amid the formation of a bullish pattern on LINK’s weekly timeframe.
Based on Martinez’s chart, Chainlink is forming a symmetrical triangle pattern – which is typically a neutral signal that turns bullish if the price breaks out from the upper trend line.
Chainlink is trading at $23.39 at time of writing.
Next up is XRP (XRP). Martinez says XRP is forming a descending triangle and could rally by around 21% from the current level. A descending triangle is typically bearish, but a breakout to the downward-sloping upper trend line is a bullish signal.
“If XRP breaks out of this descending triangle, the next target is $3.60.”
XRP is trading at $2.97 at time of writing.
Next up is Avalanche (AVAX). According to Martinez, the native token of the layer-1 blockchain is at a crossroads after failing to rise above a major resistance level since the early part of the year.
“Avalanche: Four consecutive rejections at $27. What happens next?”
Avalanche is trading at $26.76 at time of writing.
Martinez also takes a look at the native token of the payment network Stellar (XLM). According to Martinez, Stellar is flashing a bullish signal and could nearly triple in price.
“Stellar forms the right shoulder of a head and shoulders pattern. Bullish breakout could target $1!”
Stellar is trading at $0.38 at time of writing.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
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.
Generated Image: Midjourney
