Chinese Ethereum VeChain’s Explosive Potential: Analyst Expects 2,230% Price Surge in 2024

• Vechain (VET) has been predicted to breach its long-term resistance level at $0.7 in a 150 percent predicted surge. 

• Renowned analyst Ali Martinez also makes bold predictions on Cardano (ADA) and Fantom (FTM). 

Renowned crypto analyst, Ali Martinez, has shared another prediction featuring two popular altcoins and one under-the-radar asset. Based on his theory, 2024 could be a good year for the entire crypto market, and supply-chain management blockchain VeChain (VET) could be a beneficiary. According to him, VET is repeating the 2018 to 2020 consolidation. This implies that the asset could stage a huge bull run to breach its long-term resistance level of $0.70. In the short term, VET is all set to break its immediate resistance level at $0.033. 

VeChain, the forgotten Chinese Ethereum, appears to mirror the consolidation phase we saw in 2018-2020! If so, VET could break through the $0.033 resistance barrier within the next two weeks. The upswing could send VET to $0.077 by late January. That’s a 150% price increase!

VET is currently trading at $0.028345 after declining by 3.3% in the last 24 hours. The asset currently has a bearish market sentiment with a score of 35/100. However, its weekly gains stand at 8%. According to a price prediction platform, the asset could stage a bull run to finish the year at a maximum price of $0.051021. 

Cardano (ADA) and Fantom (FTM) to Join VeChain (VET) in a Bullish Run

Ali Martinez also spoke about Cardano (ADA). According to him, this smart contract platform has taken the position to breach its resistance level at $0.638. Once this happens, there could be a break out which could send the price to $0.7.

Cardano is forming a descending triangle on the lower time frames. A sustained close above $0.638 could trigger a bullish breakout, potentially propelling ADA toward $0.700. However, keep a close eye on the $0.613 support. Any weakness at this level could dampen the ADA’s bullish momentum.

Its current market behavior is negative as Cardano shows bearish market sentiment with a score of 28/100. ADA is trading at $0.57468 after falling by 3.6% in the last 24 hours. However, it still has a positive return in the last seven days with a 5.3% gain on investment. According to some analysts, ADA could pull a surprise to hit $1.03 by December 31. 

The last altcoin mentioned in this prediction is Fantom (FTM). Ali Martinez disclosed that this asset is trading at a critical resistance level, and could make a 50 percent surge after a successful breach. Also, millions of assets were accumulated when it earlier traded between $0.44 and $0.46.

Fantom has hit a significant resistance zone. Over 1,430 addresses hold 657.60 million FTM accumulated between [$0.44] and $0.46. For a bullish leap, FTM needs to break through this area decisively. If it succeeds, we could see a 45% rally, aiming for $0.65.

Fantom is currently trading at $0.400785 after falling by 4% in the last 24 hours. Regardless, its weekly gain is still positive as investors make a 7% return on their investment. Some analysts expect the price to go past the $0.65 price point predicted by Ali Martinez before the year’s end. According to a price prediction platform, Fantom could hit $0.721413 by December 31.