A popular crypto strategist is suddenly bullish on an altcoin tied to a viral play on encrypted messaging platform Telegram.
Analyst Ali Martinez tells According to its 77,300 followers on social media platform X, Notcoin could (NOT) rise 100% from its current value.
“Notcoin shows a promising risk-to-reward setup. With a falling wedge pattern forming, it could be poised for a bullish breakout towards $0.012!”
A falling wedge breakout is a technical analysis pattern used to identify bullish reversals in the price of an asset. The pattern is characterized by a series of lower highs and lower lows that form a wedge-shaped pattern on the chart.
As the pattern progresses, the distance between the highs and lows decreases, indicating that selling pressure is easing. When the price breaks 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), suggestive it could soon reach $6,000.
“The risk-reward ratio on Ethereum is too good to pass up on 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 could soon retest the upper limit at around $6,100.
Then the analyst suggests that Dogecoin (DOGE) could see an explosive rally, thanks in part to billionaire Elon Musk. Musk, one of the memecoin’s most famous supporters, is now close to newly elected US President 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 having influence over the 47th President, Donald Trump, Dogecoin could be set for a wild ride! In previous bull cycles, once DOGE broke the 0.50 Fibonacci retracement, it often rose to the 1.618 or even 2.272 Fib level. If history repeats itself, we could see DOGE hit anywhere from $4 to $23!
Dogecoin is trading at $0.1969 at the time of writing, up 15% in the last 24 hours.
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