Crypto analyst and trader Ali Martinez predicts that decentralized exchange (DEX) altcoins will soon see a breakthrough.
Martinez says 49,400 followers on social media platform
“GMX is forming a (reverse) head and shoulders pattern on the daily chart. A sustained daily candlestick close above $60 could trigger a 48.50% bullish breakout sending GMX to $90!”
GMX is trading at $56.13 at the time of this writing, down nearly 5% in the last 24 hours.
Next is the merchant proposal Smart contract protocol Cardano (ADA) has more upside potential.
“Cardano’s upward trend looks healthy! Daily active ADA addresses, transaction volume, and ADA whale transactions are increasing noticeably. “This increase in activity signals strong network engagement and investor interest and is a positive indicator of continued growth.”
Cardano is trading at $0.77 at the time of writing, up more than 6% in the last 24 hours.
Finally, the merchant warn If Bitcoin (BTC) falls below $61,000, it could fall to $51,500. To identify key support levels, he uses Bitcoin’s URPD or UTXO (Unused Transaction Output) realized price distribution. This tracks the number of existing coins that last moved within a given price range.
“More than 500,000 BTC were traded in the $61,100-$61,800 range, creating a significant support zone. If Bitcoin holds above this threshold, it is poised to rise to $65,900, given that future resistance is minimal. Conversely, if BTC falls below support, a correction could push it down to $56,970 or even $51,500.”
Bitcoin is trading at $67,481 at the time of writing, up more than 7% in the last 24 hours.
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