Analyst Observes Bullish Signs for Injective (INJ), Polygon (MATIC), and Another Ethereum-Based Altcoin
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Analyst Observes Bullish Signs for Injective (INJ), Polygon (MATIC), and Another Ethereum-Based Altcoin

A prominent crypto analyst believes that three major altcoins are about to enter bullish phases, according to a report. Ali Martinez, a well-known crypto trader, recently shared his insights with his large following on the social media platform X. Martinez first discussed VeChain (VET), a decentralized supply chain management platform, stating that it is on the cusp of taking off after successfully retesting a parallel channel. He noted that during the previous bull cycle, VeChain retested the upper boundary of a parallel channel before entering a bull rally. Moving on to Injective (INJ), a decentralized finance (DeFi) blockchain, Martinez pointed out a historical precedent for an upcoming bull run. He referred to the Thomas DeMark Sequential indicator, a technical analysis tool that identifies precise price reversals based on previous closing prices. Martinez highlighted that the last two buy signals from the indicator on the Injective weekly chart resulted in impressive bull runs of 700% and 555%. He added that the indicator is now flashing another buy signal, suggesting that INJ could rally once again. Finally, Martinez discussed Polygon (MATIC), an Ethereum (ETH) layer-2 protocol. He mentioned that the TD Sequential indicator is presenting a buy signal on the MATIC weekly chart, indicating that the cryptocurrency is about to scale up. He anticipates that Polygon will experience a one to four weekly candlesticks upswing. At the time of writing, VET is priced at $0.0396, INJ is trading at $26.41, and MATIC is valued at $0.747.

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