Cryptocurrency trader and analyst Ali Martinez is leaning bullish on a memecoin built in the Solana (SOL) ecosystem while offering his forecast for Ethereum (ETH) and Chainlink (LINK).
Martinez tells his 134,800 followers on the social media platform X that the Official Trump (TRUMP) memecoin could be preparing for a bullish reversal based on the Tom DeMark (TD) Sequential indicator signals on the weekly time frame.
[adinserter block="1"]The TD Sequential indicator is used to identify potential trend reversal points in technical analysis.
According to the analyst, TRUMP could rally by around 138% from the current level and hit a price target of $17.94 if a breakout is confirmed at around the $11.96 price point. Martinez says that TRUMP currently enjoys a major support level at around the $7.13 price.
TRUMP is trading at $7.55 at time of writing, down by 27% over the past seven days.
Next up is Ethereum. Martinez says that based on the analysis of Ethereum on the daily time frame, ETH could plummet by around 19% from the current level before it can find the next support zone.
“$1,200 could be where Ethereum finds its footing!”
Ethereum is trading at $1,485 at time of writing, down by around 21% over the last seven days.
Turning to the blockchain oracle Chainlink, Martinez says that LINK has turned bearish after failing to stay above an upward-sloping trendline on the three-day time frame. According to the analyst, Chainlink is at risk of falling by up to 34% from the current level.
“After breaking below the rising trendline, the next key support levels for Chainlink are $10 and $7.50!”
Chainlink is trading at $11.41 at time of writing, down by around 16% over the past seven days.
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