Trader Says Newly Launched Altcoin About To ‘Open the Gates’ to 70% Rally, Updates Outlook on XRP and SUI

Cryptocurrency trader and analyst Ali Martinez is leaning bullish on an altcoin that’s less than two months old while unveiling his forecast for XRP ( XRP ) and Sui ( SUI ).

Martinez tells his 134,300 followers on the social media platform X that the native token of Berachain ( BERA ), the newly launched crypto project focused on decentralized finance (DeFi), could go up by up to 70% if the altcoin manages to break above a key resistance level.

“Berachain is up 65% in the past two weeks and is now testing the upper boundary of this channel. A breakout here could open the gates to $14!”

Source: Ali Martinez/X

Berachain, whose mainnet was launched early last month, is trading at $8.23 at time of writing.

Next up is XRP. According to Martinez, the payments-focused altcoin is currently forming a head-and-shoulders pattern on the daily time frame. A head-and-shoulders pattern is typically considered bearish as it suggests that an asset is unable to sustain its uptrend with a lower high right shoulder.

The analyst, however, says that XRP can flip the outlook to bullish if the altcoin rises by around 38% from the current level and crosses above the $3 resistance level.

Source: Ali Martinez/X

Based on the trader’s chart, he seems to suggest that XRP can drop below $1.30 if it takes out support at $2.

XRP is trading $2.18 at time of writing.

Turning to Sui, Martinez says that the native token of the layer-1 blockchain could appreciate by up to 28% from the current level if the bullish momentum the crypto asset has enjoyed in the recent past continues.

“SUI surged 25% after a timely Tom DeMark (TD) Sequential buy signal. If this bullish momentum continues, $2.88 and $3.25 are the next key levels.”

Source: Ali Martinez/X

TD Sequential is an indicator used in technical analysis to determine potential trend reversal points.

Sui is trading at $2.53 at the time of writing.

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