Famous analyst Ali Martinez has shared his insights and predicts that ADA will rise while MATIC may decline in the near future.
According to analyst Ali Martinez, Cardano (ADA) could repeat its performance from 2018 to 2021 in this cycle and break through to $5.00.
Martinez mentioned this in a post on March 16 on X. However, the analyst explains that ADA could trade sideways between $0.55 and $0.80 for a while.
After that, he notes that the price will increase to $1.70 before another sideways period, followed by a price surge to $5.00.
Another token that Martinez emphasizes is Polygon (MATIC). Based on online data from IntoTheBlock, the analyst explains that MATIC may have found support around $1.02 to $1.05.
He adds that this support is the result of 608 million tokens bought by 10,900 addresses around the area. However, Martinez highlights that MATIC’s price could drop to $0.91 if the bulls fail to defend the aforementioned support level.
Like most other altcoins, the value of Cardano and Polygon has dropped. Both altcoins have experienced a similar drop in the past 24 hours. At the time of writing, ADA is trading at $0.6729 and MATIC is trading at $1.06.
While both are moving downwards, according to the famous analyst’s insights, ADA may bring profits to those holding it in the future.
MATIC, on the other hand, may be difficult to recover, and its price could drop below $1.00. However, if it starts to rise again, it could push the token much higher and reach $1.50 at that time.
