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.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses you might incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please word that The Day by day Hodl participates in internet affiliate marketing.
Generated Picture: Dalle3