Widely followed crypto analyst Ali Martinez says historically accurate signals are once again bouncing bullish for Ethereum (ETH).
Martinez told his 74,000 followers on social media platform
“Historically, the price of Ethereum has risen by an average of 130% each time it has bounced off the lower bound of this channel. If this pattern holds true, a similar move could occur in ETH as long as the critical $2,300 support level holds. could push it to $6,000.”
At the time of writing, Ethereum was trading at $2,593, down more than 1% in the past 24 hours.
Next, analysts say Bitcoin (BTC) could be poised for an explosive rally after breaking above its 200-day moving average.
“The past three times Bitcoin has broken above its 200-day moving average, we have seen parabolic bull markets. Now, BTC is on the verge of breaking this hurdle again.”
At the time of writing, Bitcoin was trading at $66,823, up more than 1% in the past 24 hours.
Finally, the analyst predicts a market correction for Solana (SOL) competitor Sui (SUI) based on the Tom DeMark (TD) Sequential Indicator.
Traders use the TD Sequential Indicator to predict potential trend reversals in a token based on the closing prices of the past 9 or 13 bars or candlesticks.
“I’m not saying to short SUI, I’m just telling you to be careful! TD Sequential has accurately predicted the trend of SUI on the weekly chart and is currently short. It's sending a signal.”
At the time of writing, Sui was trading at $2.01, down 10.4% in the past 24 hours.
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