A technical analysis indicator suggests that the Decentralized Finance (Defi) Altcoin Maker (MKR) could be for a correction for a correction.
Trader Ali Martinez tells His 128.100 followers on the social media platform X that MKR’s Tom Demark (TD) sequential indicator flashed a bearish signal on his 12-hour graph.
Traders use the TD sequential indicator to predict potential trend covers for tokens based on the final prices of their 13 previous bars or candles.
“Maker MKR can prepare for a withdrawal, because the TD sequential indicator flashes a sales signal on the 12-hour graph!”
MKR acts at $ 1,441 at the time of writing. The 85th ranking crypto assets per market hood has fallen by almost 1.5% over the past 24 hours, but almost 45% has risen over the past seven days.
Martinez too stock His prospect on the newly landed Layer-1 Blockchain Sonic (s), which was previously known as Fantom.
“I wonder if Sonic has just completed a mini market cycle and is now going into the ‘anxiety phase’ phase.”
S acts at $ 0.854 at the time of writing. The 50th ranking order Crypto-Activum per market capitalization has exchanged sideways in the last day, but almost 56% has risen in the past week.
Martinez also notes that crypto -whales have been accumulate Ethereum (ETH).
“Whales have collected another 140,000 Ethereum ETH in the [24 hours]! “
At the time of writing, EH $ 2,679 is worth.
The trader also says that investors with a deep bag are swallowing the payments altcoin XRP.
“Whales bought more than 20 million XRP in the [24 hours]! “
XRP is traded at $ 2.53 at the time of writing and has fallen by more than 5% for the past 24 hours.
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Generated image: midjourney
Credit : dailyhodl.com
