A popular crypto trader says a liquid staking service for the Ethereum (ETH) blockchain is sending a short-term bullish signal.
Analyst Ali Martinez tell his 60,600 followers on social media platform
“If LDO can hold above $1.85, we could see it rebound towards $3! »
Traders use the TD Sequential Indicator to predict potential trend reversals of tokens based on the closing prices of their previous 13 bars or candles.
LDO is trading at $2.05 at the time of writing. The crypto asset ranked 63rd by market capitalization increased by 2.5% over the past week.
Martinez also updates his outlook on Bitcoin (BTC), noting that the leading crypto asset exhibited two sell signals on the 12-hour chart.
“A deadly crossover between the 50 and 100 SMA (simple moving average) and a red 9 candlestick from the TD Sequential.
If BTC falls below $63,300, prepare for possible drops to $61,000 or even $59,000.
A death crossover occurs when the 50-day moving average crosses below the 200-day moving average, a sign that the asset may be entering a deeper bearish phase.
Bitcoin is trading at $64,676 at the time of writing. The top-ranked crypto asset by market capitalization is up almost 2% over the past week.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
