Analyst Stated that This Altcoin Gives a Short-Term Rise Signal: 10 Dollars is on the Way!

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Popular crypto analyst Ali Martinez reported that Uniswap (UNI) is showing a short-term bullish signal. Martinez used the Tom DeMark (TD) Sequential indicator in his analysis. Here are the details…

According to Martinez, the TD Sequential indicator presents a strong buying opportunity for UNI. This could herald a 1 to 4 day rally and indicate a significant increase in the value of the asset. The presence of this signal indicates that the altcoin value could potentially rise to $10. emphasized.

Tom DeMark (TD) Sequential is known as an indicator that follows a series of price points to signal possible trend reversals. This indicator is used to determine the strength or weakness of a market trend and the likelihood of a reversal. TD Sequential can be preferred in any time period and for any cryptocurrency. It includes two phases: Setup Phase (9 steps) and Countdown phase (13 Steps).

UNI is trading at $7.78 at the time of writing. The 23rd-ranked crypto asset by market cap is up nearly 4% in the last 24 hours.

Ali Martinez also announced that the market value to realized value (MVRV) ratio of the popular altcoin Cardano (ADA) has fallen below -22%. The MVRV ratio expresses the ratio of the market value of a crypto asset to its realized capitalization, that is, the difference between the value of all ADAs at the price at which they were purchased and the current market value. This ratio is used to understand whether a crypto asset is overvalued.

The last time Cardano’s MVRV rate dropped below -22%, ADA’s price surged over 75%, Martinez reported. Therefore, ADA’s MVRV ratio returning below -22% could be a strong recovery signal for Cardano in the coming days.

Cardano is trading at $0.5 at the time of writing this article. The smart contract platform has increased by approximately 3.57% in the last 24 hours.

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