Vechain (VET) is poised to make a significant surge, with analysts predicting a breach of its long-term resistance level at $0.7, resulting in a 150 percent increase. Renowned crypto analyst Ali Martinez also shared his predictions on Cardano (ADA) and Fantom (FTM), suggesting that these altcoins could experience bullish runs as well.
Martinez believes that 2024 could be a promising year for the entire crypto market, with VeChain (VET) benefiting from this trend. He notes that VET is currently repeating the consolidation phase seen between 2018 and 2020, indicating the potential for a major bull run to surpass its long-term resistance level of $0.70. In the short term, VET is expected to break its immediate resistance level at $0.033.
VeChain, often referred to as the forgotten Chinese Ethereum, is displaying similarities to its previous consolidation phase. If history repeats itself, VET could overcome the $0.033 resistance barrier within the next two weeks. This upward momentum could propel VET to reach $0.077 by late January, resulting in a remarkable 150 percent price increase.
As of now, VET is trading at $0.028345, having experienced a 3.3 percent decline in the last 24 hours. The asset currently has a bearish market sentiment with a score of 35/100. However, it has recorded weekly gains of 8 percent. According to a price prediction platform, VET could potentially finish the year with a maximum price of $0.051021.
Ali Martinez also discussed Cardano (ADA), stating that this smart contract platform has the potential to breach its resistance level at $0.638. Once this occurs, a breakout could lead to the price reaching $0.7. However, it is important to monitor the $0.613 support level, as any weakness at this point could dampen ADA’s bullish momentum.
Cardano currently exhibits negative market behavior, with a bearish market sentiment score of 28/100. ADA is currently trading at $0.57468, experiencing a 3.6 percent decline in the last 24 hours. However, it has generated a positive return of 5.3 percent in the last seven days. Some analysts speculate that ADA could surprise investors by reaching $1.03 by December 31.
The final altcoin mentioned in Martinez’s predictions is Fantom (FTM). He revealed that FTM is trading at a critical resistance level and could potentially experience a 50 percent surge upon breaching it. Additionally, millions of FTM were accumulated when it previously traded between $0.44 and $0.46.
Fantom is currently trading at $0.400785, having fallen by 4 percent in the last 24 hours. However, it still has a positive weekly gain of 7 percent for investors. Some analysts anticipate that the price could surpass the $0.65 mark predicted by Ali Martinez before the end of the year. According to a price prediction platform, Fantom could reach $0.721413 by December 31.
In summary, Vechain (VET) is expected to make a significant surge, while Cardano (ADA) and Fantom (FTM) also show potential for bullish runs. These predictions by Ali Martinez provide insight into the future of these altcoins and the broader crypto market.
