A popular cryptocurrency analyst and trader has suggested that the top ten altcoins may be preparing for a major rebound.
Cryptocurrency strategist Ali Martinez told his 65,700 followers on social media platform X that the native token of layer one blockchain Toncoin (TON) could surge by over 19% from its current value.
“TON could rise to $9 after breaking out of the ascending triangle!”
Source: Ali Martinez/X
At the time of writing, Toncoin’s trading price was $7.53, experiencing a 1.5% decrease in the past 24 hours.
The analyst then warned that if Bitcoin were to fall to $60,700, it could retest lower levels.
“Don’t get too excited just yet! If Bitcoin falls to $60,700, approximately $22 million will be liquidated!”
Source: Ali Martinez/X
However, he also stated that if the top-ranked digital asset manages to reclaim $62,200 as support, Bitcoin could form a bull market on the hourly chart.
“Bitcoin seems to be forming an Adam and Eve bottom pattern, indicating that if Bitcoin can maintain a candlestick closing price above $62,200, it could rise by 6% to reach $66,000!”
Source: Ali Martinez/X
At the time of writing, Bitcoin’s trading price was $60,882, experiencing a decrease of over 1% in the past 24 hours.
Lastly, the analyst noted that according to the Tom DeMark (TD) Sequential indicator, Solana (SOL) appears to be confirming an upward trend, signaling a reversal of the bearish trend from June 25.
“What did we say about Solana?”
Source: Ali Martinez/X
The TD Sequential indicator is typically used to identify trend direction and potential price reversals.
At the time of writing, Solana’s trading price was $141, experiencing a decrease of over 4% in the past 24 hours.
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