Cryptocurrency trader and analyst Ali Martinez is leaning bullish on a memecoin built in the Solana (SOL) ecosystem while offering his forecast for Ethereum (ETH) and Chainlink (LINK).
Martinez tells his 134,800 followers on the social media platform X that the Official Trump (TRUMP) memecoin could be preparing for a bullish reversal based on the Tom DeMark (TD) Sequential indicator signals on the weekly time frame.
The TD Sequential indicator is used to identify potential trend reversal points in technical analysis.
According to the analyst, TRUMP could rally by around 138% from the current level and hit a price target of $17.94 if a breakout is confirmed at around the $11.96 price point. Martinez says that TRUMP currently enjoys a major support level at around the $7.13 price.
TRUMP is trading at $7.55 at time of writing, down by 27% over the past seven days.
Next up is Ethereum. Martinez says that based on the analysis of Ethereum on the daily time frame, ETH could plummet by around 19% from the current level before it can find the next support zone.
“$1,200 could be where Ethereum finds its footing!”
Ethereum is trading at $1,485 at time of writing, down by around 21% over the last seven days.
Turning to the blockchain oracle Chainlink, Martinez says that LINK has turned bearish after failing to stay above an upward-sloping trendline on the three-day time frame. According to the analyst, Chainlink is at risk of falling by up to 34% from the current level.
“After breaking below the rising trendline, the next key support levels for Chainlink are $10 and $7.50!”
Chainlink is trading at $11.41 at time of writing, down by around 16% over the past seven days.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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