Cryptocurrency analyst and trader Ali Martinez says one indicator is signaling Bitcoin (BTC) will soon reach new all-time highs.

Martinez tells his 158,600 followers on X that Bitcoin may increase more than 16% from its current value based on the MVRV (Market Value to Realized Value) Extreme Deviation Pricing Bands.

The MVRV Extreme Deviation Pricing Bands are used in on-chain analysis to identify potential market tops and bottoms.

“Bitcoin breaking past $117,000 points to $139,000 next, according to the Pricing Bands.”

A line chart displaying Bitcoin price movements over time, with multiple colored bands labeled MVRV Extreme Deviation Pricing Bands. The chart shows price data from January to May 2023, with Bitcoin prices reaching above $117,000. Text overlays include "Bitcoin MVRV Extreme Deviation Pricing Bands," dates, and price points like $139,000. A watermark from glassnode is visible at the bottom.
Source: Ali Martinez/X

Bitcoin is trading for $119,252 at time of writing, up 1.5% in the last 24 hours.

Next up, the analyst says that payments token XRP is looking bullish based on the Unspent Transaction Output (UTXO) Realized Price Distribution indicator, which shows the specific prices at which the current supply last moved.

“XRP held $2.80 as support. As long as it does, there are no major supply walls to block a rebound.”

A bar chart displaying XRP UTXO Realized Price Distribution (URPD) with ATH-Partitioned data. Vertical bars represent price levels, with a prominent spike at $2.80. The x-axis shows price ranges, and the y-axis indicates distribution intensity. A watermark reading "glassnode" is visible at the bottom right.
Source: Ali Martinez/X

XRP is trading for $2.98 at time of writing, up 1.1% on the day.

Moving on to Ethereum (ETH) rival Solana, the analyst says that SOL may increase by 60% from its current value after holding the $205 level as support.

“With the bullish retest complete, Solana could now be ready for $320-$360.”

A line chart displaying Solana $SOL price movements over time, with a bullish trend line and horizontal price levels marked from $140 to $360. The chart includes candlestick patterns and a watermark reading "TradingView" in the bottom left corner.
Source: Ali Martinez/X

SOL is trading for $225 at time of writing, up 2.7% on the day.

Lastly, the analyst says that decentralized oracle Chainlink (LINK) is on the verge of a massive breakout after retesting a key Fibonacci retracement level at around $20.

“$47 could be next for Chainlink!”

A line chart displaying price movements of Chainlink $LINK cryptocurrency. The chart includes multiple upward-sloping trend lines and price points, with a peak around 47,000. A watermark reading "TradingView" and text "@ali_charts" are visible.
Source: Ali Martinez/X

LINK is trading for $22.24 at time of writing, down marginally in the last 24 hours.

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