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Crypto trader and analyst Ali Martinez is highlighting one Ethereum (ETH) competitor that could double in price after a breakout.
Martinez tells his 151,600 followers on X that Solana (SOL) could surge by a little over 100% from the current price to reach a new all-time high price of $360.
Based on the analyst’s chart, it appears he’s suggesting that Solana is forming an ascending triangle on the 12-hour time frame. An ascending triangle is typically considered a bullish pattern in technical analysis.
“Not a bad spot to start loading Solana SOL before a breakout.”
Source: Ali Martinez/X
Solana is trading at $197.46 at time of writing, down by around 32% from the all-time high price of $294.
Turning to Bitcoin (BTC), Martinez says the crypto king needs to hold support at $112,000 to avoid further downside risk.
“Lose it and $108,000 is next.”
Source: Ali Martinez/X
Bitcoin is trading at $112,342 at time of writing.
Next up is XRP (XRP). According to Martinez, the Tom DeMark (TD) Sequential indicator is flashing a bullish signal for XRP on the daily time frame. The TD Sequential indicator is used to identify potential bearish and bullish reversal points in technical analysis.
“After perfectly calling the top, TD Sequential flips to buy on XRP!”
Source: Ali Martinez/X
XRP is trading at $3.09 at time of writing.
Next up is the native token of layer-one blockchain Sei (SEI). Martinez says that if SEI rises above a downward trend line, it could skyrocket by around 198% from the current level based on Fibonacci extension levels. The Fibonacci extension level, which is based on the Fibonacci natural sequence of numbers, is a technical analysis tool used to determine potential price targets.
“If SEI breaks past $0.37… Mamma mia!”
Source: Ali Martinez/X
Sei is trading at $0.31 at time of writing.
