Cryptocurrency analyst and dealer Ali Martinez is leaning cautiously bullish on an Ethereum-based altcoin.
Martinez tells his 70,300 followers on the social media platform X that the native token of the Ethereum (ETH) scaling answer Polygon (POL) is forming a descending triangle sample, on the weekly chart.
A descending triangle sample is often thought of a bearish sign.
In keeping with Martinez, POL may admire by 155% from the present stage if the assist space at across the $0.34 worth holds up.
POL is buying and selling at $0.369 at time of writing.
If Polygon’s $0.34 assist stage fails, Martinez says,
“Nevertheless, if it breaks, a correction all the way down to $0.19 is feasible.”
Subsequent up is Bitcoin (BTC). Martinez says that earlier within the yr, the Tom DeMark (TD) Sequential indicator, a software utilized in technical evaluation to determine potential development reversals, turned bearish. In keeping with the analyst, Bitcoin should preserve the $51,000 assist stage or danger plunging to $40,600.
Bitcoin is buying and selling at $56,718 at time of writing.
Turning to Solana (SOL), Martinez says,
“The TD Sequential indicator has flashed a purchase sign on the Solana each day chart, suggesting a possible rebound of 1 to 4 each day candlesticks.”
Subsequent up is the native token of The Open Community layer-1 blockchain Toncoin (TON). According to Martinez, Toncoin has to reclaim the assist stage at round $4.70 to keep away from a double-digit crash.
“If TON fails to take action, a forty five% correction all the way down to $2.60 may very well be possible.”
TON is buying and selling at $4.67 at time of writing.
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