Crypto Trader Issues Bitcoin Warning, Says Ethereum Liquid Staking Project Flashing Short-Term Bullish Signal
A preferred crypto dealer says a liquid staking service for the Ethereum (ETH) blockchain is flashing a short-term bullish sign.
The analyst Ali Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator just lately offered a purchase sign on Lido DAO’s (LDO) 3-day chart.
“If LDO can hold above $1.85, we could see it rebound toward $3!”
Merchants use the TD Sequential Indicator to foretell potential development reversals for tokens based mostly on the closing costs of their 13 earlier bars or candles.
LDO is buying and selling at $2.05 at time of writing. The 63rd-ranked crypto asset by market cap is up 2.5% prior to now week.
Martinez additionally updates his outlook on Bitcoin (BTC), noting that the highest crypto asset offered two promote indicators on the 12-hour chart.
“A dying cross between the 50 and 100 SMA (easy shifting common) and a crimson 9 candlestick from the TD Sequential.
If BTC falls under $63,300, brace for potential dives to $61,000 and even $59,000.”
A dying cross happens when the 50-day shifting common crosses under the 200-day shifting common, an indication that the asset might enter a extra pronounced bear section.
Bitcoin is buying and selling at $64,676 at time of writing. The highest-ranked crypto asset by market cap is up almost 2% prior to now week.
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