Crypto Analyst Bullish on Cardano and Low-Cap Altcoin
Crypto analyst and trader Ali Martinez believes that Cardano (ADA) and one low-cap altcoin are poised for significant price movements.
Cardano’s Path to Higher Prices
Martinez notes that Cardano, the eighth-largest cryptocurrency by market cap, has no major resistance barriers ahead. He believes that once ADA surpasses key resistance levels at $0.80 and $1, it will have a clear path to move higher. Martinez cites data from IntoTheBlock, which shows that around 90.76% of Cardano holders who bought the asset between $0.553 and $0.754 are currently in profit.
Potential Bullish Move for Worldcoin
Martinez also highlights Worldcoin (WLD), a biometric cryptocurrency project. He points out a massive exchange outflow of 3.6 million WLD coins, coinciding with an increase in whale transactions. This suggests that WLD whales may be preparing for a significant price move.
Shiba Inu’s Attempt to Break Out
Regarding Shiba Inu (SHIB), Martinez points out that the 18th-largest cryptocurrency has been trading in a bearish descending parallel channel for about 15 months. However, it is now attempting to break out of this pattern. A decisive weekly close above the resistance level of $0.000011 could signal a bullish breakout for SHIB.
Hot Take: Potential Upside for Cardano and Worldcoin
Crypto analyst Ali Martinez believes that Cardano (ADA) has a clear path to move higher once it surpasses key resistance levels. He also highlights the potential for a significant price move in Worldcoin (WLD) based on whale transactions and exchange outflows. However, he cautions that Shiba Inu (SHIB) needs to break out of its descending parallel channel to signal a bullish trend. Overall, these three cryptocurrencies have the potential for upside price movements in the near future.
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