Analyst Says BNB Could Explode by Over 160%, Updates Outlook on Bitcoin, Shiba Inu and Polkadot

Analyst and trader Ali Martinez is leaning bullish on one large-cap crypto asset while offering his insight on Bitcoin (BTC) and two altcoins.

Martinez tells his 85,900 followers on the social media platform X that BNB, the native token of the BNB Chain ecosystem, could skyrocket by 164% from the current level if it manages to convincingly break above a major resistance level.

“BNB could be about to break out. I’m waiting for a weekly close above $662 for a potential move to $1,630!”

BNB is trading at $617 at time of writing.

Next up is Bitcoin. According to Martinez, Bitcoin’s current price action appears to be mirroring the third halving cycle with even the Relative Strength Index (RSI), an indicator used to determine overbought or oversold conditions, looking “nearly identical.”

“If true, BTC will go to $108,000, drop to $99,000, and bounce to $135,000!”

Bitcoin is trading at $97,282 at time of writing.

Next up is Shiba Inu (SHIB). Martinez says that the second-largest memecoin by market cap could go up by approximately 56% if SHIB convincingly overcomes a major resistance level.

“Shiba Inu faces resistance at $0.000025, where 40,000 addresses bought 54.6 trillion SHIB. A sustained close above this supply barrier could take SHIB to $0.000039.”

Shiba Inu is trading at $0.0000252 at time of writing.

Next up is the native token of the layer-1 blockchain Polkadot (DOT). Martinez says that Polkadot could go up by around 86% from the current level if the current momentum continues.

“Polkadot is going as planned! Next stop: $11!”

Polkadot is trading at $5.92 at time of writing.

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Generated Image: Midjourney