The cryptocurrency expert Ali Martinez emphasized a positive near-term perspective for Lido DAO (LDO), a project connected to the Ethereum (ETH) Blockchain. He noted that the Tom DeMark (TD) Sequential Indicator recently indicated a buy signal for LDO within a 3-day timeframe. Should LDO succeed in maintaining a level above $1.85, there exists a possibility for its valuation to soar towards $3.
This indicator is frequently employed by investors to forecast potential shifts in trends based on historical closing prices. Despite its volatility, LDO, positioned as the 63rd in terms of market capitalization, has demonstrated resilience and is presently valued at $2.05, showing an increase of 2.5% over the previous week.
Bitcoin Market Synopsis
In conjunction with LDO, Martinez offered an evaluation on Bitcoin (BTC), bringing attention to two notable sell signals identified within a 12-hour timeframe. These signs encompass the emergence of a death cross amid the 50-day and 100-day Simple Moving Averages (SMA), alongside a red 9 candlestick from the TD Sequential Indicator.
Martinez alerted that if BTC descends under the crucial support threshold of $63,300, it might undergo a downturn towards $61,000 or $59,000, conceivably proceeding with corrective price actions. A death cross often signals an imminent downtrend when the 50-day moving average descends below the 200-day moving average.
Bitcoin currently holds an approximate value of $63,000, registering a decrease of 1.71% over the past week. Nevertheless, Bitcoin sustains itself as a prominent participant in the market, drawing global investor interest and upholding its robust market standing.
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