A popular crypto strategist suddenly becomes bullish on an altcoin connected to a viral game on encrypted messaging platform Telegram.
Analyst Ali Martinez tells his 77,300 followers on social media platform X that Notcoin (NOT) could soar 100% from its current value.
“Notcoin shows a promising risk-reward setup. With a falling wedge pattern forming, it could be primed for a bullish breakout towards $0.012! »
A falling wedge breakout is a technical analysis pattern used to identify bullish reversals in an asset’s price. The pattern is characterized by a series of lower highs and lower lows that form a wedge-shaped pattern on the chart.
As the trend progresses, the distance between the highs and lows decreases, indicating that the selling pressure is weakening. When the price breaks out of the upper trendline of the wedge, it is traditionally considered bullish.
NOT is trading at $0.006 at the time of writing, up 7.9% in the last 24 hours.
The analyst is also bullish on Ethereum (ETH), suggesting it could hit $6,000 soon.
“The risk/reward ratio on Ethereum is too good to pass up as a long position! I set my stop below $1,880 and am aiming for a target of $6,000.
Looking at his chart, the analyst suggests that ETH is holding the lower trendline of the ascending channel as support and may soon retest the upper boundary at around $6,100.
Next, the analyst suggests that Dogecoin (DOGE) could see an explosive rally, partly due to billionaire Elon Musk. Musk, one of the most famous supporters of memecoin, is now close to US President-elect Donald Trump, after playing a role in his election.
The analyst also believes that DOGE could repeat a historical pattern based on Fibonacci extensions, which traders use in technical analysis to estimate profit targets and price declines. They are based on Fibonacci ratios.
“With Elon Musk now influencing the 47th president, Donald Trump, Dogecoin could be in for a wild ride! During previous bull cycles, once DOGE broke the 0.50 Fibonacci retracement, it often bounced back to the 1.618 or even 2.272 Fibonacci levels. If history repeats itself, we could see DOGE reach between $4 and $23!
Dogecoin is trading at $0.1969 at the time of writing, up 15% in the last 24 hours.
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