Cryptocurrency Trader and analyst Ali Martinez leans Beararish on the Memecoin Floki (Floki).
Martinez tells His 133,600 followers on the social media platform X that Floki has formed a flag pattern on the three -hour period.
According to the Crypto analyst, Floki could fall around 37% from the current level as soon as it breaks down. In technical analysis, a flag pattern is bullish or bearish, depending on whether the flag area of the pattern forms after an upward or a downtrend.
If it forms after an upward trend, the flag pattern is bullish, while when it arises after a downtrend, the flag pattern is Bearish.
Floki acts at $ 0.0000633 at the time of writing.
The next is Dogecoin (doge). Martinez out That the largest meme coin of market capitalization is a rising triangular pattern on the one-hour graph. An increasing triangular pattern is an bullish signal, especially if the price breaks above the upper limit or the diagonal resistance level of the triangle.
“Dogecoin will break out! A closure outside $ 0.16 – $ 0.18 could cause a price movement of 16%.”
What turn to Ethereum (ETH), Martinez out That the second largest crypto assets per market capitalization must rise by around 22% from the current level and have to close above that threshold to become bullish. Based on a graphic illustration of data from the Crypto analysis platform Intothlock, it seems that the level has around $ 2,400 12.39 million addresses that are currently under water.
That level could offer a strong resistance, because there might be many sellers who want to leave their positions on the first opportunity to even break.
Ethereum trades at $ 1,968 at the time of writing.
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