Widely followed crypto analyst Ali Martinez says a historically accurate signal is bullish again for Ethereum (ETH).
Martinez tells his 74,000 followers on social media platform
“Each bounce off the lower boundary of this channel has historically resulted in an average Ethereum price increase of 130%. If this trend continues, a similar move could push ETH to $6,000 – provided the key support level of $2,300 remains intact.
Ethereum is trading at $2,593 at the time of writing, down more than 1% in the last 24 hours.
Next, the analyst claims that Bitcoin (BTC) could be gearing up for an explosive rally after surpassing the 200-day moving average.
“The last three times Bitcoin has surpassed the 200-day moving average, we have seen parabolic bull runs! Today, BTC is trying to overcome this obstacle again.
Bitcoin is trading at $66,823 at the time of writing, up more than 1% in the last 24 hours.
Finally, the analyst predicts a market correction for Solana (SOL) competitor Sui (SUI) based on the Tom DeMark Sequential Indicator (TD).
Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their previous nine or 13 bars or candles.
“I’m not saying go short circuit SUI. I’m just saying, be careful! The TD Sequential accurately predicted SUI’s trend on the weekly chart, and it is now issuing a sell signal.
Sui is trading at $2.01 at the time of writing, down 10.4% in the last 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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