Analyst reveals bullish predictions for Bitcoin, Fantom and SandBox

Renowned cryptocurrency analyst Ali Martinez recently shared predictions of possible rises for Bitcoin (BTC), Fantom (FTM) and SandBox (SAND) cryptocurrencies.

In his analysis of the largest cryptocurrency on the market, Martinez highlighted that Bitcoin is consolidating within a parallel channel. The expert highlighted the important price zones for a fall or rise in BTC prices.

“On the 4-hour chart, Bitcoin is consolidating within a parallel channel, which puts all focus on the $42,400 support. A sustained drop below could see $BTC reach $40,700. On the other hand, a recovery from here could set the stage for a recovery towards $44,400,” he wrote.

At the time of publication, the price of Bitcoin was quoted at US$42,758.85, down 2.1% in the last 24 hours.

In the 4-hour chart, #Bitcoin is consolidating within a parallel channel, which puts all the focus on the $42,400 support.

A sustained drop below could see $BTC head to $40,700. On the flip side, a rebound from here might set the stage for an upswing toward $44,400. pic.twitter.com/P4f6C97cvL

— Ali (@ali_charts) December 26, 2023

The analyst also highlighted that a close above US$0.57 could take the Fantom price to a high of US$1.60. “Fantom appears to form a “W” pattern on its weekly chart. If $FTM maintains a weekly close above $0.57, it will confirm this bullish formation and march towards $1.60!” explained.

At the time of publication, the Fantom price was listed at US$0.551028, up 1.4% in the last 24 hours.

Martinez also noted the sharp increase in SandBox transactions worth over $100,000, which suggests a growth in interest from large investors in the cryptocurrency, indicating notable spikes soon.

“In the last 24 hours, there has been a sharp increase in SAND transactions above $100,000. This increase indicates growing interest from institutional participants and whales in SAND, often a precursor to notable price spikes,” he wrote.

At the time of publication, the price of SandBox was listed at US$0.628235, up 3.8% in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.