Analyst and dealer Ali Martinez is leaning bearish on Solana (SOL) because the sixth-largest crypto asset by market cap lies about 53% under the all-time excessive recorded in January.
Martinez tells his 134,300 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is flashing a bearish sign on the 12-hour timeframe.
The TD Sequential indicator is used to establish potential worth reversal factors.
“The TD Sequential completely timed the Solana backside, triggering a 20% rally. Now, it’s flashing a promote sign. Time to be cautious!”
Solana is buying and selling at $138 at time of writing.
Turning to Dogecoin (DOGE), the crypto analyst and dealer says the worth trajectory of the most important memecoin by market cap will depend upon two key ranges – a help degree at round $0.177 and a resistance degree at about $0.207, based mostly on the Unspent Transaction Output (UTXO) Unrealized Value Distribution (URPD) metric.
The URPD, which is used to research how cash are distributed based mostly on the worth at which they have been final moved, helps in figuring out key help and resistance ranges. In line with Martinez, about 8% of the whole provide of Dogecoin was moved on the $0.177 worth whereas about 7% of the whole provide of the memecoin was moved on the $0.208 worth.
Martinez additional says that on the day by day timeframe, Dogecoin may flip bullish if the flagship memecoin appreciates by round 9% from the present degree based mostly on the SuperTrend indicator. The SuperTrend indicator is used to find out market route and potential entry or exit factors.
“The SuperTrend indicator means that Dogecoin may enter a bullish section upon breaking the $0.21 resistance degree.”
Dogecoin is buying and selling at $0.193 on the time of writing.
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