Vechain (VET) is expected to experience a significant surge, potentially surpassing its long-term resistance level at $0.7, according to predictions by renowned analyst Ali Martinez. Martinez also made bold predictions for Cardano (ADA) and Fantom (FTM). He believes that 2024 could be a promising year for the entire crypto market, with supply-chain management blockchain VeChain (VET) benefiting from this trend. Martinez suggests that VET is currently going through a consolidation period similar to the one observed between 2018 and 2020, indicating the potential for a major bull run that could break the long-term resistance level of $0.70. In the short term, VET is expected to surpass its immediate resistance level at $0.033.
VeChain, often referred to as the forgotten Chinese Ethereum, seems to be following a consolidation phase similar to the one seen between 2018 and 2020. If this trend continues, VET could break through the $0.033 resistance barrier within the next two weeks. This upward movement could propel VET to reach $0.077 by late January, representing a 150% price increase.
Currently, VET is trading at $0.028345, experiencing a decline of 3.3% in the past 24 hours. The asset currently has a bearish market sentiment with a score of 35/100. However, it has seen a weekly gain of 8%. According to a price prediction platform, VET could experience a bull run and reach a maximum price of $0.051021 by the end of the year.
Martinez also mentioned Cardano (ADA) in his predictions. He suggests that this smart contract platform is on track to surpass its resistance level at $0.638, which could lead to a breakout and push the price to $0.7. Cardano is currently forming a descending triangle on lower time frames, and a sustained close above $0.638 could trigger a bullish breakout, potentially driving ADA towards $0.700. However, it is important to monitor the $0.613 support level as weakness at this point could dampen ADA’s bullish momentum.
Currently, Cardano has a negative market behavior with a bearish market sentiment score of 28/100. ADA is trading at $0.57468, experiencing a decline of 3.6% in the past 24 hours. However, it has seen a positive return of 5.3% in the last seven days. Some analysts believe that ADA could surprise investors and reach $1.03 by December 31.
The final altcoin mentioned in Martinez’s predictions is Fantom (FTM). Martinez reveals that FTM is currently trading at a critical resistance level and could experience a 50% surge if it successfully breaches this level. Additionally, millions of FTM assets were accumulated during its previous trading range between $0.44 and $0.46.
Fantom has encountered a significant resistance zone, with over 1,430 addresses holding 657.60 million FTM accumulated between $0.44 and $0.46. To experience a bullish leap, FTM needs to break through this area decisively. If successful, a 45% rally could be expected, with the price target set at $0.65.
Currently, Fantom is trading at $0.400785, experiencing a decline of 4% in the past 24 hours. However, it has seen a positive weekly gain of 7%. Some analysts anticipate that Fantom could exceed the $0.65 price point predicted by Ali Martinez before the end of the year. According to a price prediction platform, Fantom could reach $0.721413 by December 31.