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Home»ALTCOIN NEWS»Trader warns of blue-chip Ethereum rival flashing bearish signals, says Metaverse altcoin is on the rise
ALTCOIN NEWS

Trader warns of blue-chip Ethereum rival flashing bearish signals, says Metaverse altcoin is on the rise

By Crypto FlexsDecember 26, 20232 Mins Read
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Trader warns of blue-chip Ethereum rival flashing bearish signals, says Metaverse altcoin is on the rise
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Crypto analyst and trader Ali Martinez has warned that an Ethereum (ETH) competitor is suddenly sending bearish signals.

Martinez says Interoperability blockchain Polkadot (DOT) could fall more than 20% from its current value, according to a report by 37,500 followers on social media platform X.

The Tom DeMark (TD) Sequential Indicator, which aims to identify turning points in the market, is giving a bearish reading for DOT with a value of 9, indicating a possible correction, according to the trader.

“Polkadot: TD Sequential indicator shows selling on weekly chart of DOT as it reaches major resistance at 100-EMA (exponential moving average). This could lead to a surge in profit-taking, potentially sending DOT down to $7.50.”

Source: Ali Martinez/X

Polkadot is trading at $9.42 at the time of writing, up 7.47% in the last 24 hours.

Next is the merchant Called Decentralized virtual world The Sandbox (SAND) may have hit a market bottom, setting the stage for a future price surge.

“Sandbox appears to be in the ‘recession’ phase, a critical point in the typical market psychological cycle. “This could be a great moment for investors to consider acquiring SAND, as the market could be on the rise in the coming years.”

video
Source: Ali Martinez/X

Sandbox is trading at $0.668 at the time of writing, up 16.49% in the last 24 hours.

Finally, the merchant Called Litecoin (LTC), a peer-to-peer payment network, is suddenly receiving a lot of attention from deep-pocketed investors.

“Litecoin whales have purchased approximately 42,000 LTC over the past week, worth approximately $3 million!”

video
Source: Ali Martinez/X

Litecoin is trading at $72.25 at the time of writing, up 1.57% in the last 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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