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Tag: TD Sequential

  • XRP Price Soars: Analyst Predicts Surge Beyond $200

    XRP Price Soars: Analyst Predicts Surge Beyond $200

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    In spite of a slight adverse trend in the crypto market, XRP has been gradually rising in recent days, fueling positive and bullish predictions from market analysts to unprecedented heights.

    XRP Might Rally To New All-Time High Sooner Than Expected

    Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism towards XRP, sharing a daring prediction regarding the crypto asset’s future with the community on the social media platform X (formerly Twitter).

    According to the crypto expert, XRP might be poised to undergo a significant movement that will send prices to unprecedented heights, where he highlighted that there is a possibility that XRP can rally beyond the $200 price mark.

    Marks noted that the digital asset is presently experiencing “another set of higher lows” that are holding. In addition, he pointed out that “another breakout” has taken place in the XRP chart.

    A potential rise to $200 and above | Source: Javon Marks on X

    As a result of this, XRP could witness “a massive upward movement” to New All-Time highs (ATHs), which Javon Marks expects to commence soon.

    The post read:

    A $200+ XRP (Ripple) can be possible. Another set of Higher Lows are holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.

    The crypto analyst’s analysis aligns with a historical trend that had previously occurred in 2018, sending XRP’s price to its current ATH of $3.3. Prior to the surge, the token fell from the December 2013 high of $0.06, creating a bearish declining trendline.

    For several years, XRP was below this declining trendline, with two unsuccessful breakout trials during that timeframe. Nonetheless, after failing to break out twice, the coin persisted and managed to break out in 2017.

    After this breakout, it increased by over 63,000% to its present all-time high price of $3.3. Based on Mark’s predictions, it indicates that this precise trend is manifesting right now.

    However, some community members have expressed their displeasure with the analyst’s projections. A pseudonymous X user disagreed with Marks saying “It does not make any sense” given the “basic tokenomics” of the crypto asset.

    The Crypto Asset Poised For A Move Above $0.60

    Cryptocurrency analyst Ali Martinez has underscored the potential for XRP to move past the $0.60 price mark. According to his post, Martinez’s position was influenced by the observation made by the Tom DeMark (TD) Sequential.

    He stated that the TD Sequential indicator has formed a buying signal on the token’s chart. Consequently, this indicates a possible bullish momentum for XRP to move higher. 

    He further asserted that if it manages to maintain its weekly close above $0.57, it could serve as a catalyst for an upswing to $0.63 or even further, setting his target at $0.65 

    As of the time of writing, XRP was trading at $0.538, demonstrating a decline of 1.39% in the past day. Its market cap is down by 1.42%, while its daily trading volume is up by over 4%, according to CoinMarketCap.

    XRP
    XRP trading at $0.5347 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Godspower Owie

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  • Chainlink Forms Sell Signal, Analyst Predicts Pullback To This Level

    Chainlink Forms Sell Signal, Analyst Predicts Pullback To This Level

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    An analyst has pointed out how Chainlink is forming a TD Sequential sell signal right now, which could lead to a retracement to this level.

    Chainlink Could Decline To $12.50 Following The Sell Signal

    As explained by analyst Ali in a new post on X, LINK could be heading toward a correction based on what the TD Sequential signal says. The “Tom Demark (TD) Sequential” is a popular indicator in technical analysis that is used to pinpoint reversals in the price of any asset (which, in the current discussion, is naturally Chainlink).

    The metric gives a signal whenever the asset has seen nine candles following a reversal in its price. The signal is a sell one if the candles are green, while it’s a buy one if the candles are red.

    This phase is called the “setup phase.” Once the setup is done, a 13-candle long countdown phase kicks off. At the end of these 13 candles, the price could be believed to have hit another probable bottom or top (depending on whether the phase started with a sell or buy signal).

    Chainlink has recently been enjoying some very rapid growth, which has led to the asset’s price hitting heights not seen since April of last year. This run, however, may be going toward at least a temporary setback, as according to Ali, a TD Sequential setup phase seems to have finished for the cryptocurrency recently. The signal has in fact appeared on not just one, but three of the coin’s price charts: daily, 3-day, and weekly.

    Here are the charts as shared by the analyst:

    LINK appears to have completed a TD-9 setup | Source: @ali_charts on X

    As displayed in the above graph, the Chainlink TD Sequential setup phase has finished with green candles on all of these LINK charts, implying a reversal towards the bearish side may be imminent for the cryptocurrency.

    Ali anticipates that the retracement would be towards the $12.50 level, which would mean a drawdown of more than 18% from the current price level of the asset. “Failing to hold above this critical support area could extend the losses to $10.50,” the analyst further adds.

    Such a decline all the way to $10.50 would suggest a decrease of over 31% for Chainlink, but even if such a steep drop happens, LINK still wouldn’t have fully undone the recovery it has made since the last third of October, showing just how sharp the asset’s bullish momentum has been recently.

    It now remains to be seen what trajectory the asset takes from here considering this bearish signal. So far, chances are not looking in the favor of the coin, as it has seen two red candles already since the pattern has formed, implying that the countdown phase might have begun.

    LINK Price

    Chainlink had risen above the $16.5 mark during the weekend, but the coin has taken a hit in the past day as it’s now close to the $15 level.

    Chainlink Price Chart

    LINK has more than doubled during the past month | Source: LINKUSD on TradingView

    Featured image from Shutterstock.com, charts from TradingView.com

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    Keshav Verma

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