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February 8, 2024

Crypto Analyst Predicts Surge for One Top-10 Altcoin Lasting up to Four Weeks, Updates Outlook on Tron (TRX)

By Mark Emem

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.

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The TD Sequential indicator is typically used to identify trend direction and potential price reversals.

Source: Ali Martinez/X

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.

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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.”

Source: Ali Martinez/X

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.

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