Trader Sees Ethereum on the Verge of Breaking Out, Reassesses Bitcoin and DeFi

A prominent crypto analyst, Ali Martinez, has updated his outlook on Ethereum, Bitcoin, and Maker.

He believes Ethereum is poised to break out of an ascending triangle pattern, but warns that a decline could follow if it fails to close above $2,560. For Bitcoin, Martinez sees a potential sell signal from the Tom DeMark Sequential Indicator, suggesting a possible price correction. Finally, he remains bearish on Maker, predicting a significant drop despite its recent rebranding.

Clever Robot News Desk 1^st September 2024