Cryptocurrency analyst and trader Ali Martinez is expressing bullish sentiment on one smart contract-enabled blockchain while updating his outlook on Bitcoin (BTC) and Lido DAO (LDO).
Martinez tells his 63,900 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is flashing an opportunity for a long entry on the four-hour chart for the native token of layer-1 blockchain Toncoin (TON).
The analyst says that the TD Sequential indicator, which is used to determine potential points of trend reversals, is signaling that Toncoin could rally by around 46% from the current level to reach a price of $11.
Based on Martinez’s chart, it appears that Toncoin has also formed an ascending triangle pattern on the 12-hour chart. An ascending triangle pattern is typically considered bullish.
“However, the TD Sequential indicator suggests TON might briefly dip to $7.2 to gather liquidity before the upswing.”
Toncoin is trading at $7.52 at time of writing.
Turning to Bitcoin, Martinez says that since 2013, the flagship crypto asset recorded the lowest returns during the July-September quarter.
“Beware!
Historically, Bitcoin has struggled in Q3, with an average return of 6.49% and a median return of -2.57%.”
Bitcoin is trading at $67,658 at time of writing.
Next up is Lido DAO, a liquid staking service for the Ethereum (ETH) ecosystem. Martinez says,
“The TD Sequential presents a buy signal on the Lido DAO daily chart, predicting a potential rebound of one to four daily candlesticks for LDO!”
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
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 cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
