Cryptocurrency trader and analyst Ali Martinez believes that Solana (SOL) may be on the verge of an explosive breakout to a new all-time high.

Martinez tells his 146,400 followers on X that the top Ethereum (ETH) rival is on the brink of a strong impulse to the upside.

The analyst says that SOL is forming an ascending triangle on the 12-hour time frame, a bullish formation that’s confirmed when the price breaches the upper horizontal trend line.

He also uses Fibonacci extension levels to suggest SOL may increase more than 92% from its current level. Traders use the Fibonacci extension tool to identify potential entry and exit levels for an asset based on the Fibonacci ratio.

 “Solana may offer a final buy-the-dip chance before targeting $360!”

SOL is trading for $187 at time of writing, down 4.3% in the last 24 hours.

Next up, the says that the layer-1 blockchain Avalanche (AVAX) may see a more than 56% increase from its current value if it can flip the $27 level into support.

“If Avalanche can break past $27, the path to $32 or $37 will be clear.”

AVAX is trading for $23.70 at time of writing, down 1% in the last 24 hours.

He also says that Sei (SEI) may be forming a bullish descending triangle. In technical analysis, a descending triangle is considered bullish if the price of an asset breaks out from the above descending trend line.

“SEI is on the brink of a 160% bull rally to $0.90!”

SEI is trading for $0.31 at time of writing, down 5.4% on the day

Next up, he says that smart contract platform Cardano (ADA) may soon increase by more than 63% from its current value, based on Fibonacci extension levels.

“ADA is on the verge of a breakout to $1.50!”

ADA is trading for $0.92 at time of writing, up marginally in the last 24 hours.

Lastly, Martinez says that ETH competitor Sui (SUI) may nearly double its current value after retesting a breakout level of a symmetrical triangle pattern.

“SUI bullish retest complete, targeting $7!”

SUI is trading for $3.64 at time of writing, down 3.6% in the last 24 hours.