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A closely followed cryptocurrency analyst says that one of Solana’s competitors (Sol) Could Rise 30% as He Updates His Bitcoin PredictionsBitcoin) and other digital assets.
In a new strategy session, cryptocurrency trader Ali Martinez He says He has 69,600 followers on social media platform X, which indicates that one of the key metrics is sending a buy signal to Switzerlandthe native crypto asset of the layer 1 blockchain and smart contract platform Sui Network.
“TD Sequential stock has given a buy signal on the weekly SUI chart. A sustained close above the 50-week moving average could lead to a 30% rally to $1.20!”
The Tom DeMark Sequential (TD) indicator is a measure used by traders to predict reversal points for the price of an asset.
SUI is trading at $0.843 at the time of writing, a slight increase over the past 24 hours.
Moving to Decentralized Finance (DeFi) Protocol AaveghostMartinez says the altcoin could face a 27% correction as it leans lower after the TD Sequential flashed a sell signal on its daily chart, which the trader says happened recently.
“The last four times the TD Sequential has shown a sell signal on the daily chart of AAVE, it has been followed by a 27% average correction. Now the same sell signal is showing, suggesting a potential decline in AAVE.”
AAVE is valued at $135.47 at the time of writing, down 1.1% over the last day.
The strategist continues to Note This is the solution to the layer 2 Polygon expansion (Matic) is also facing a correction after days of bullish momentum.
“Polygon has seen a significant uptick in recent days, but caution is advised. The TD Sequential on the hourly chart is signaling a potential correction to the MATIC.”
MATIC is trading at $0.52 at the time of writing, a gain of 8.4% over the past 24 hours.
He concluded his analysis with the king of cryptocurrencies, Martinez. He says Based on history, Bitcoin is still in the early stages of its post-halving bull cycle. Traders have also pointed out that Notes The digital asset industry is tipped to rally after the Tether stablecoin (USDT) are widely minted.
“It has been 119 days since the Bitcoin halving in 2024. In the last two cycles, Bitcoin reached its market high about 530 days after the halving. If history repeats itself, we are still in the early stages of this cycle!”
Bitcoin is trading at $60,330 at the time of writing.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and trades 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 any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
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