Top-10 Altcoin Set for Double-Digit Rally, Crypto Trader Updates Bitcoin and Solana Outlook
A prominent cryptocurrency analyst and trader has suggested that a top-10 altcoin is on the brink of a significant upsurge. According to crypto strategist Ali Martinez, who shared insights with a substantial following on X, the native token of layer-1 blockchain Toncoin (TON) could potentially surge by over 19% from its current value. Martinez indicated, “Toncoin is poised for a rise towards $9 after breaking out of an ascending triangle.”
At the time of writing, Toncoin is priced at $7.53, reflecting a 1.5% decline in the past 24 hours. Moving on, the analyst cautioned about Bitcoin (BTC) potentially revisiting lower levels if it drops to $60,700. Martinez emphasized, “Don’t get too excited yet! If Bitcoin drops to $60,700, around $22 million will be liquidated!” However, there is a silver lining as Martinez also noted a possible bullish pattern emerging on the hourly chart for Bitcoin if it manages to reclaim $62,200 as a support level. He highlighted, “Bitcoin seems to be shaping an Adam and Eve bottoming pattern, signaling a potential 6% rise toward $66,000 if BTC can maintain a candlestick close above $62,200!”
Bitcoin’s current trading price stands at $60,882, experiencing a slight decrease of more than 1% in the last 24 hours. Lastly, Martinez pointed out that Solana (SOL) seems to be affirming an upward trend based on the Tom DeMark (TD) Sequential indicator, which indicated a bullish trend reversal on June 25th. The TD Sequential indicator is commonly utilized to identify trend directions and potential price reversals within the market.
Solana is currently trading at $141, showing a decline of over 4% in the past 24 hours. It appears that the cryptocurrency market is in a state of flux, with various altcoins and Bitcoin itself experiencing fluctuations that analysts like Martinez are closely monitoring for potential trading opportunities and trends. This ongoing analysis and observation of price movements serve as crucial indicators for traders and investors navigating the dynamic landscape of the crypto market.
