XRP and Ethereum Challenger Show Bullish Signs, Analyst Revises Bitcoin Outlook
Crypto strategist Ali Martinez, followed closely by many, suggests that XRP and another altcoin are showing bullish signals indicative of potential upward movement.
With a substantial following of 47,900 on X social media platform, Martinez highlights XRP’s bullish outlook based on the Tom DeMark (TD) Sequential indicator, typically used to gauge trend direction and price reversals. According to Martinez, XRP’s weekly chart exhibits a buy signal, hinting at bullish momentum that could propel it towards $0.63 or higher if it maintains a sustained weekly close above $0.57. Meanwhile, Solana (SOL), an Ethereum (ETH) competitor, also reflects a bullish signal on its daily chart according to the TD Sequential indicator, signaling a potential upswing. Currently valued at $110.58, SOL has surged over 7% in the past day.
Martinez further notes Bitcoin’s (BTC) potential rally above $60,000 after breaking out of a bullish megaphone pattern, suggesting a rally towards $60,520 if it maintains its position above $50,000 and achieves a sustained close above $53,000.
Clever Robot News Desk 28th February 2024
