Crypto Trader’s Bullish Signal for Ethereum
A well-known crypto trader recently shared a bullish signal for Ethereum (ETH) through a liquid staking service on the blockchain. Using the Tom DeMark (TD) Sequential indicator, the trader indicated that Lido DAO’s (LDO) 3-day chart showcased a buy signal, hinting at potential growth in the near term. The trader emphasized the importance of LDO maintaining a price above $1.85 to potentially reach $3 soon.
- TD Sequential indicator predicts trend reversals based on closing prices
- LDO currently trading at $2.05, showing a 2.5% increase in the past week
Bitcoin Outlook and Warning
Additionally, the trader updated the outlook for Bitcoin (BTC), highlighting two sell signals seen on the 12-hour chart. These signals included a death cross between the 50 and 100 SMA and a red 9 candlestick from the TD Sequential. In case BTC drops below $63,300, the trader cautioned of potential declines to $61,000 or even $59,000.
- Death cross signifies potential bear phase for assets
- Bitcoin currently priced at $64,676, showing nearly a 2% increase in the last week
Hot Take: Trader’s Warnings and Signals
It’s essential to pay attention to the signals and warnings shared by experienced traders in the crypto space, as they provide valuable insights into potential price movements for various assets. By understanding these indicators and trends, you can make more informed decisions when trading or investing in cryptocurrencies.
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