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Crypto Trader Issues Bitcoin Warning, Says Ethereum Liquid Staking Project Flashing Short-Term Bullish Signal

April 27, 2024
in Altcoin
Reading Time: 2 mins read
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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 not too long ago offered a purchase sign on Lido DAO’s (LDO) 3-day chart.

“If LDO can maintain above $1.85, we might see it rebound towards $3!”

Supply: ali_charts/X

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 loss of life cross between the 50 and 100 SMA (easy transferring common) and a crimson 9 candlestick from the TD Sequential.

If BTC falls beneath $63,300, brace for attainable dives to $61,000 and even $59,000.”

Image
Supply: ali_charts/X

A loss of life cross happens when the 50-day transferring common crosses beneath the 200-day transferring 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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Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses chances are you’ll incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in affiliate marketing online.

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Tags: BitcoinBullishcryptoEthereumFlashingissuesLiquidProjectshorttermSignalstakingTraderwarning
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