Vechain (VET) is poised to experience a significant surge, with analysts predicting a breach of its long-term resistance level at $0.7, resulting in a 150 percent increase. In addition to VET, renowned analyst Ali Martinez has also made bold predictions for Cardano (ADA) and Fantom (FTM).
According to Martinez, the entire crypto market could thrive in 2024, and VET, a blockchain platform for supply-chain management, could reap the benefits. Martinez suggests that VET is currently in a consolidation phase similar to the one seen from 2018 to 2020, indicating the potential for a major bull run that breaks through the long-term resistance level at $0.70. In the short term, VET is expected to surpass its immediate resistance level at $0.033.
Drawing a parallel to the consolidation phase witnessed from 2018 to 2020, Vechain, often referred to as the forgotten Chinese Ethereum, may soon break through the $0.033 resistance barrier within the next two weeks. This upward trend could propel VET to reach $0.077 by the end of January, resulting in a significant price increase of 150 percent.
At present, VET is trading at $0.028345, experiencing a decline of 3.3 percent in the last 24 hours. The asset currently has a bearish market sentiment, with a score of 35/100. However, it has recorded a weekly gain of 8 percent. According to a price prediction platform, VET could potentially finish the year with a maximum price of $0.051021.
Martinez also discussed Cardano (ADA), stating that this smart contract platform is on track to breach its resistance level at $0.638. Upon achieving this milestone, ADA could experience a breakout that drives the price towards $0.7. However, Martinez advises monitoring the support level at $0.613, as any weakness at this point could dampen ADA’s bullish momentum.
Currently, Cardano exhibits negative market behavior, with a bearish market sentiment score of 28/100. ADA is trading at $0.57468, seeing a decline of 3.6 percent in the last 24 hours. Nonetheless, it has achieved a positive return on investment of 5.3 percent over the past seven days. Analysts speculate that ADA could surprise investors by reaching $1.03 by December 31.
Lastly, Martinez mentions Fantom (FTM), noting that the asset is trading at a critical resistance level and could experience a 50 percent surge upon successfully breaking through. Notably, a significant number of assets were accumulated when FTM traded 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. For a bullish leap, FTM needs to decisively break through this area. If successful, a 45 percent rally could be expected, with the price targeting $0.65.
Currently, Fantom is trading at $0.400785, experiencing a 4 percent decline in the last 24 hours. However, it has recorded a positive weekly gain of 7 percent. Some analysts predict that Fantom could surpass the $0.65 price point predicted by Martinez before the end of the year. According to a price prediction platform, Fantom could reach $0.721413 by December 31.
In conclusion, Vechain (VET), Cardano (ADA), and Fantom (FTM) are all expected to experience significant bullish runs, according to analyst Ali Martinez. These predictions are based on various factors, and investors are advised to closely monitor market trends and developments.