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MainNewsXRP and Thre...

XRP and Three Other Altcoins Could Witness Another Sell-Off Event, According to Crypto Strategist


by Daily Hodl Staff
for The Daily Hodl

A closely followed crypto analyst is warning that payments token XRP and three other altcoins may suddenly collapse.

In a new post, crypto trader Ali Martinez tells his 134,500 followers on the social media platform X that XRP may be forming a head-and-shoulders (H&S) pattern on the daily chart.

An H&S structure is a bearish pattern indicating that an asset has lost momentum to sustain its uptrend after failing to print new highs.

He also says that the Ethereum (ETH) hard fork Ethereum Classic (ETC), decentralized finance (DeFi) protocol Yearn.Finance (YFI) and a Bitcoin (BTC) hard fork Bitcoin Cash (BCH) are on the verge of losing key support levels.

“What do XRP, ETC, YFI, and BCH have in common?”

Image
Source: Ali Martinez/X

XRP is trading for $2.08 at time of writing, down 3.3% in the last 24 hours.

Meanwhile, ETC is trading for $16.69 at time of writing, up 1% on the day, and YFI is trading for $4,778 at time of writing, down 1.1% in the last 24 hours.

BCH is trading for $302 at time of writing, up 1.1% on the day.

Next up, he says that the Tom DeMark (TD) Sequential indicator is flashing a bullish signal on the weekly charts for layer-1 protocol Algorand (ALGO) and global payments network Stellar (XLM).

TD Sequential is an indicator used in technical analysis to determine potential trend reversal points.

“The TD Sequential just presented a buy signal on the weekly chart for Algorand. This could be the spark for a fresh uptrend!”

Image
Source: Ali Martinez/X

ALGO is trading for $0.17 at time of writing, down 1.5% in the last 24 hours.

He suggests Stellar may increase more than 46% its current value.

“The TD Sequential indicator just flashed a buy signal on the Stellar weekly chart, which could lead to a rebound to $0.34 or even $0.38!”

Image
Source: Ali Martinez/X

XLM is trading for $0.26 at time of writing, down 2% on the day.

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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: Midjourney

The post XRP and Three Other Altcoins Could Witness Another Sell-Off Event, According to Crypto Strategist appeared first on The Daily Hodl.

Read the article at The Daily Hodl

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MainNewsXRP and Thre...

XRP and Three Other Altcoins Could Witness Another Sell-Off Event, According to Crypto Strategist


by Daily Hodl Staff
for The Daily Hodl

A closely followed crypto analyst is warning that payments token XRP and three other altcoins may suddenly collapse.

In a new post, crypto trader Ali Martinez tells his 134,500 followers on the social media platform X that XRP may be forming a head-and-shoulders (H&S) pattern on the daily chart.

An H&S structure is a bearish pattern indicating that an asset has lost momentum to sustain its uptrend after failing to print new highs.

He also says that the Ethereum (ETH) hard fork Ethereum Classic (ETC), decentralized finance (DeFi) protocol Yearn.Finance (YFI) and a Bitcoin (BTC) hard fork Bitcoin Cash (BCH) are on the verge of losing key support levels.

“What do XRP, ETC, YFI, and BCH have in common?”

Image
Source: Ali Martinez/X

XRP is trading for $2.08 at time of writing, down 3.3% in the last 24 hours.

Meanwhile, ETC is trading for $16.69 at time of writing, up 1% on the day, and YFI is trading for $4,778 at time of writing, down 1.1% in the last 24 hours.

BCH is trading for $302 at time of writing, up 1.1% on the day.

Next up, he says that the Tom DeMark (TD) Sequential indicator is flashing a bullish signal on the weekly charts for layer-1 protocol Algorand (ALGO) and global payments network Stellar (XLM).

TD Sequential is an indicator used in technical analysis to determine potential trend reversal points.

“The TD Sequential just presented a buy signal on the weekly chart for Algorand. This could be the spark for a fresh uptrend!”

Image
Source: Ali Martinez/X

ALGO is trading for $0.17 at time of writing, down 1.5% in the last 24 hours.

He suggests Stellar may increase more than 46% its current value.

“The TD Sequential indicator just flashed a buy signal on the Stellar weekly chart, which could lead to a rebound to $0.34 or even $0.38!”

Image
Source: Ali Martinez/X

XLM is trading for $0.26 at time of writing, down 2% on the day.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

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: Midjourney

The post XRP and Three Other Altcoins Could Witness Another Sell-Off Event, According to Crypto Strategist appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

CME’s XRP Futures to debut in May: A game-changer for the altcoin?

CME’s XRP Futures to debut in May: A game-changer for the altcoin?

How will CME XRP futures upcoming debut impact demand and price?
Altcoin Listed on Binance Is Silently Rising! Here Are the Reasons for the Rise!

Altcoin Listed on Binance Is Silently Rising! Here Are the Reasons for the Rise!

Binance-listed Sui Network’s native token SUI has risen 18.5 percent in the last 24 h...