Analyst Says XRP and One Ethereum Rival Flashing Bullish Signal, Updates Outlook on Bitcoin (BTC)

By The Daily Hodl February 28, 2024 In Bitcoin, Ethereum, Ripple, Solana
Source: Ali Martinez/X

A closely followed crypto strategist says XRP and one additional altcoin are giving off a bullish reading that could lead to a move to the upside.

Pseudonymous analyst Ali Martinez tells his 47,900 followers on the social media platform X that XRP looks bullish based on the Tom DeMark (TD) Sequential indicator.

The TD Sequential indicator is typically used to identify trend direction and potential price reversals.

Says Martinez,


“The TD Sequential indicator has issued a buy signal on the XRP weekly chart, indicating potential bullish momentum. If XRP manages a sustained weekly close above $0.57, it could be the catalyst for a push toward $0.63 or even higher, reaching $0.65.”

Source: Ali Martinez/X

At time of writing, XRP is worth $0.55.

Another altcoin that’s flashing a bullish signal based on the TD Sequential indicator is the Ethereum (ETH) rival Solana (SOL), according to Martinez.

“The TD Sequential indicator presents a buy signal on the Solana daily chart, suggesting a potential upswing that could span one to four daily candlesticks for SOL.”

Source: Ali Martinez/X

At time of writing, SOL is worth $110.58, up over 7% in the past day.

As for Bitcoin (BTC), Martinez says the crypto king may be en route to rallying above $60,000 after breaking out of a bullish megaphone pattern.

“Bitcoin shows a megaphone pattern on its daily chart. If BTC maintains its position above $50,000, achieving a sustained close above $53,000 could be the catalyst for a rally toward $60,520!”

Source: Ali Martinez/X

At time of writing, Bitcoin is trading at $56,359, up over 9% in the past day.

Generated Image: DALLE3

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