Liquid Staking Service for Ethereum Blockchain Flashes Short-Term Bullish Signal: Analyst
The crypto market is buzzing with excitement as a popular trader highlights a bullish signal for Ethereum (ETH) and Bitcoin (BTC). According to analyst Ali Martinez, a liquid staking service for the Ethereum blockchain is showing a short-term bullish signal, with the potential for a rebound towards $3 if it can hold above $1.85. This news has caught the attention of traders, as they use the TD Sequential Indicator to predict trend reversals based on closing prices.
Meanwhile, Martinez also warns of potential downside for Bitcoin, as it presents two sell signals on the 12-hour chart. A death cross between the 50 and 100 SMA, along with a red 9 candlestick from the TD Sequential, could signal a possible drop if BTC falls below $63,300.
Despite the caution for Bitcoin, both assets are currently trading up in the past week, with Ethereum at $2.05 and Bitcoin at $64,676. Traders and investors are advised to stay informed and do their due diligence before making any high-risk investments in the volatile crypto market.
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