A widely followed crypto analyst says that one smart contract platform could see massive gains while updating his outlook on Bitcoin (BTC) and Dogecoin (DOGE).
In a new strategy session, crypto trader Ali Martinez tells his 68,2000 followers on the social media platform X that Ethereum (ETH) competitor Solana (SOL) has the potential to skyrocket by a staggering 900%.
“Solana has officially broken out from this bull pennant, suggesting a potential 900% rally ahead.”
The strategist’s chart suggests that Solana will break out near the end of summer and skyrocket toward the $1,600 price tag until early 2025.
Solana is trading for $170.97 at time of writing, a 5.3% decrease during the last 24 hours.
Moving on to the top digital asset by market cap, Martinez says it could potentially be hit by a wave of upcoming liquidations as it rebounds toward $65,200.
“BTC could rebound to $65,200 to liquidate $42.16 million in short positions!”
Bitcoin is trading for $64,659 at time of writing, a 2.5% decrease during the last 24 hours.
Concluding his analysis with Dogecoin, Martinez says the popular meme asset is following a familiar pattern – one that has it seeing large dips before eventually skyrocketing.
“I haven’t sold one single DOGE. I’ve just been buying! Dogecoin is playing the same pattern we’ve seen before. It consolidates in a descending triangle, sees a 140% to 230% rally, and retraces by 56% to 60% before entering a bull run. So now we just wait!!!”
In the short term, Martinez says he envisions DOGE climbing by 44%. DOGE is trading for $0.123 at time of writing, a 5.7% decrease on the day.
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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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