A technical analysis indicator suggests that the decentralized Altcoin manufacturer (MKR) (MKR) could be ready for a correction, according to a popular crypto analyst.
The merchant Ali Martinez said to his 128,100 subscribers on the X social media platform that the sequential indicator of Tom Demark (TD) of MKR has flashed a lower signal on his 12-hour table.
Traders use the TD sequential indicator to predict potential trend reversals for tokens according to the fence prices of their 13 previous bars or candles.
“Maker MKR could prepare for a hindsight, because the TD sequential indicator flashes a sales signal on the 12 -hour table!”
MKR is traded at $ 1,441 at the time of the editorial staff. The classified cryptographic asset of the 85th per market capitalization is down by almost 1.5% in the last 24 hours, but has increased by almost 45% in the last seven days.
Martinez also shares her perspectives on the newly renamed Blockchain (s) Layer-1, which was previously known as the Fantom.
“I wonder if Sonic has just finished a mini market cycle and now in the” anxiety “phase.”
S is negotiated at $ 0.854 at the time of the editorial staff. The cryptographic asset classified in the 50th by market capitalization was negotiated on the side during the last day, but increased by almost 56% last week.
Martinez also notes that cryptocurrencies have accumulated Ethereum (ETH).
“Whales accumulated 140,000 other Ethem in (24 hours)!”
At the time of writing, ETH is worth $ 2,679.
The merchant also says that deep pocket investors include Altcoin XRP payments.
“The whales bought more than 20 million XRP within (24 hours)!”
XRP is negotiated at $ 2.53 at the time of writing and is down more than 5% in the last 24 hours.
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