Crypto Analyst Updates Forecasts: Toncoin Soars, Bitcoin on the Fence, Solana Trends Up

BTC

BTC

Crypto traders are looking for opportunities in a volatile market, and one analyst sees a top-10 altcoin poised for a significant surge.

Ali Martinez, a crypto strategist with a sizable following on social media platform X, believes Toncoin (TON), the native token of the layer-1 blockchain Toncoin, could rally over 19% from its current price.

Martinez identified a bullish technical indicator, the ascending triangle, suggesting a potential price increase for TON towards $9. However, it’s important to note that Toncoin is currently trading down slightly at $7.53.

Bitcoin (BTC), the world’s leading cryptocurrency, also came under Martinez’s scrutiny. The analyst warns that a drop below $60,700 for Bitcoin could trigger liquidations worth around $22 million, potentially pushing the price even lower.

On a brighter note, Martinez also observed a potentially bullish pattern forming on Bitcoin’s hourly chart. If Bitcoin can reclaim $62,200 as support, it might be establishing an “Adam and Eve bottoming pattern,” which could signal a 6% rise towards $66,000. Bitcoin is currently trading around $60,882, down slightly over the past day.

Finally, Martinez turned his attention to Solana (SOL), another major cryptocurrency. He believes Solana is confirming an uptrend based on the Tom DeMark (TD) Sequential indicator, which recently signaled a potential bullish trend reversal on June 25th. The TD Sequential indicator is a popular tool used by traders to identify potential changes in price direction. While Solana is currently down over 4% at $141, Martinez’s analysis suggests a possible shift towards a positive trend.

It’s important to remember that cryptocurrency markets are inherently volatile, and technical analysis should not be the sole factor driving investment decisions. Investors should conduct their own research and consider various factors before entering any crypto trade.