Cryptocurrency analyst and trader Ali Martinez says that one top-10 altcoin by market cap is flashing a bullish signal after a weeks-long downtrend.
Martinez tells his 43,600 followers on the X social media platform that XRP is “poised for an upswing” that could last “one to four weeks” based on the Tom Demark (TD) Sequential indicator.
[adinserter block="1"]The TD Sequential indicator is typically used to identify trend direction and potential price reversals.
XRP, the sixth-largest crypto asset by market cap, is trading at $0.503 at time of writing, a 22.8% decrease from its 30-day high of $0.618 set on January 11th.
Next up is the native token of the smart contract blockchain Tron (TRX). Martinez says that the TD Sequential indicator is flashing a bearish signal on Tron.
“The TD Sequential indicator is signaling a sell on the TRX 3-day chart, indicating that TRX could be heading towards a correction phase that might last from three to twelve days.
This bearish outlook is reinforced by a divergence between the TRON price and the Relative Strength Index (RSI), suggesting weakening momentum and potential downward movement in the near term.”
The RSI is a momentum indicator used to determine potential oversold or overbought conditions.
Tron is trading at $0.125 at time of writing, a fractional gain on the day.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised 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 buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
