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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.”
Source: Ali Martinez/X
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.”
Source: Ali Martinez/X
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.”
Source: Ali Martinez/X
XRP is trading at $3.33 at time of writing.
