Crypto analyst and trader Ali Martinez is warning that one Ethereum (ETH) rival is suddenly flashing a bearish signal.
Martinez tells his 37,500 followers on the social media platform X that interoperability blockchain Polkadot (DOT) could decline by more than 20% from its current value.
According to the trader, the Tom DeMark (TD) Sequential indicator, which aims to identify turning points in a market with a value of nine signaling a possible correction, is giving off a bearish reading for DOT.
“Polkadot: the TD Sequential indicator flags a sell on the weekly chart for DOT, just as it hits a key resistance at the 100-EMA (exponential moving average). This could lead to a spike in profit-taking, potentially driving DOT down to $7.50.”
Source: Ali Martinez/X
Polkadot is trading at $9.42 at time of writing, up 7.47% in the last 24 hours.
Next, the trader says that the decentralized virtual world The Sandbox (SAND) may have hit a market bottom, setting the stage for future price surge
We współpracy z: https://dailyhodl.com/2023/12/26/trader-warns-blue-chip-ethereum-rival-flashing-bearish-signal-says-metaverse-altcoin-gearing-up-for-upswings/
