Ali Martinez, an analyst and trader is bearish about Solana.SOLAs the sixth largest crypto asset in terms of market capital, it is about 53 percent below its all-time record high set in January.
Martinez tells The social media platform X informed his 134.300 Twitter followers that Tom DeMark’s (TD) Sequential Indictor is showing a bearish sign on the 12 hour timeframe.
TD Sequential is a tool used to determine potential price reversal.
“The TD Sequential perfectly timed the Solana bottom, triggering a 20% rally. Now, it’s flashing a sell signal. Time to be cautious!”
Solana currently trades at $138.
Dogecoin – What is it?DOGECrypto analyst and trader says the price trajectory of the largest memecoin by market cap will depend on two key levels – a support level at around $0.177 and a resistance level at about $0.207, based on the Unspent Transaction Output (UTXO) Unrealized Price Distribution (URPD) metric.
The URPD helps identify key levels of support and opposition by analyzing how coins were distributed based upon the last price they changed hands. Martinez said that about 8% (or $0.177) of Dogecoin’s total supply was traded at this price, while about 7% (7.8 cents) of memecoins total supply was changed at $0.208.
Martinez further says SuperTrend shows that Dogecoin, on a daily basis, could become bullish when the flagship memecoin increases by around 9% compared to its current value. SuperTrend can be used to predict market direction as well potential entry points or exits.
“The SuperTrend indicator suggests that Dogecoin could enter a bullish phase upon breaking the $0.21 resistance level.”
Dogecoin was trading for $0.193 when this post was published.
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