Analyst Says Solana Offering Final Chance Before Exploding to New All-Time High, Maps Path Forward for Four Other Ethereum Rivals

Cryptocurrency trader and analyst Ali Martinez believes that Solana (SOL) may be on the verge of an explosive breakout to a new all-time high.

Martinez tells his 146,400 followers on X that the top Ethereum (ETH) rival is on the brink of a strong impulse to the upside.

The analyst says that SOL is forming an ascending triangle on the 12-hour time frame, a bullish formation that’s confirmed when the price breaches the upper horizontal trend line.

He also uses Fibonacci extension levels to suggest SOL may increase more than 92 from its current level. Traders use the Fibonacci extension tool to identify potential entry and exit levels for an asset based on the Fibonacci ratio.

 “Solana may offer a final buy-the-dip chance before targeting $360!”

Source: Ali Martinez/X

SOL is trading for $187 at time of writing, down 4.3 in the last 24 hours.

Next up, the says that the layer-1 blockchain Avalanche (AVAX) may see a more than 56 increase from its current value if it can flip the $27 level into support.

“If Avalanche can break past $27, the path to $32 or $37 will be clear.”

Source: Ali Martinez/X

AVAX is trading for $23.70 at time of writing, down 1 in the last 24 hours.

He also says that Sei (SEI) may be forming a bullish descending triangle. In technical analysis, a descending triangle is considered bullish if the price of an asset breaks out from the above descending trend line.

“SEI is on the brink of a 160 bull rally to $0.90!”

Source: Ali Martinez/X

SEI is trading for $0.31 at time of writing, down 5.4 on the day

Next up, he says that smart contract platform Cardano (ADA) may soon increase by more than 63 from its current value, based on Fibonacci extension levels.

“ADA is on the verge of a breakout to $1.50!”

Source: Ali Martinez/X

ADA is trading for $0.92 at time of writing, up marginally in the last 24 hours.

Lastly, Martinez says that ETH competitor Sui (SUI) may nearly double its current value after retesting a breakout level of a symmetrical triangle pattern.

“SUI bullish retest complete, targeting $7!”

Source: Ali Martinez/X

SUI is trading for $3.64 at time of writing, down 3.6 in the last 24 hours.