Cryptocurrency analyst and trader Ali Martinez says that Bitcoin may enter an uptrend if BTC can smash through a key resistance level.
Martinez tells his 154,400 followers on X that Bitcoin may soon break through the $113,000 resistance level after two recent failed attempts.
“Breaking past $113,000 sets Bitcoin BTC on track for $116,000 and possibly $119,000.”
Bitcoin is trading for $111,428 at time of writing, down 1.2% on the day.
Next up, the trader says memecoin Dogecoin (DOGE) may break out of the upper bound of an enduring trading range.
“Dogecoin targets the top of the channel at $0.242!”
DOGE is trading for $0.23 at time of writing, up marginally in the last 24 hours.
The trader also says that peer-to-peer payments project Stellar (XLM) is suddenly flashing bullish based on the SuperTrend indicator, which is used in technical analysis to determine market direction and potential entry or exit points.
“XLM flipped bullish for the first time since August 25th, according to the SuperTrend indicator.”
XLM is trading for $0.37 at time of writing, down 2.1% on the day.
Next up, the trader says that the native token of decentralized perpetuals exchange Hyperliquid (HYPE) may increase more than 28% from its current value after breaking out of an ascending triangle pattern on the daily chart.
“HYPE breaks out, targets $67!”
HYPE is trading for $52.24 at time of writing, up 1.4% in the last 24 hours.
Lastly, the trader says the meme token Pudgy Penguins (PENGU) may be forming a bull flag pattern on the daily chart and may increase more than 172% from its current value.
In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.
“PENGU is breaking out of a bullish [pattern], entering a new leg up to $0.09!”
PENGU is trading for $0.03305 at time of writing, down 2.4% on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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