Analyst Prediction: Toncoin (TON) to Surge 40% Based on Bullish Chart Patterns

Ali Martinez’s analysis of the cryptocurrency market provides valuable insights for traders and investors. He highlights that Toncoin’s native token (TON) is displaying promising signals for traders, with the Tom DeMark (TD) Sequential indicator indicating a potential long entry opportunity on the four-hour chart. The indicator suggests a significant rally of around 40%, with a potential high of $11 from its current trading level of $7.52. Additionally, Toncoin has formed an ascending triangle pattern on its 12-hour chart, typically viewed as bullish.

Toncoin is Poised For a Substantial Surge

Despite these positive indicators, Martinez cautions that the TD Sequential indicator suggests a possible brief dip to $7.2 to gather liquidity before an expected upswing. This strategic dip may present an additional entry point for vigilant traders.

Shifting to Bitcoin, Martinez remarks on the historical performance during the third quarter of the year. He notes that Q3 has traditionally been challenging for Bitcoin, with average returns of 6.49% and median returns of -2.57% since 2013. This trend indicates a historically low-performing quarter for Bitcoin, urging caution among investors.

Read Also: Notcoin (NOT) Rockets Up by 10% as TON Nears Ethereum’s Active Wallet Numbers

Source: x.com/ali_charts

In the current market, Bitcoin’s price at $67,658 is met with cautious sentiment, with Martinez’s insights suggesting the need for managing expectations and positioning strategies to mitigate potential risks during this historically low-performing quarter.

Moving to the Ethereum ecosystem, Martinez highlights the buy signal issued by the TD Sequential indicator on Lido DAO’s daily chart, forecasting a potential short-term rebound. This presents an opportunity for traders looking to capitalize on temporary price movements.

In his broader market analysis, Martinez emphasizes the importance of paying attention to short-term signals, as they can provide critical insights into market sentiment and potential reversals. Additionally, considering Lido DAO’s role within the Ethereum ecosystem, such rebounds could influence broader market dynamics.

In conclusion, while Martinez’s use of the TD Sequential indicator provides a framework for understanding potential market movements for Toncoin, Bitcoin, and Lido DAO, investors should conduct their due diligence and consider multiple factors before making trading decisions.

Read Also: Ripple Advocates for a Reduced fine in SEC Lawsuit, Referencing Terra Settlement in its Latest Filing


Follow us on Twitter, FacebookTelegram, and Google News

  • 784 Posts
  • 0 Comments
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
Loading...