Crypto Analyst Ali Martinez Says Ethereum (ETH) Rival Solana (SOL) Could Be Gearing Up for a Large Rally
- 王林Original
- 2024-08-27 12:14:25632browse
Analyst Ali Martinez tells his 69,000 followers on the social media platform X that SOL is potentially printing an Adam and Eve pattern.
Crypto analyst Ali Martinez believes Solana (SOL) is preparing for a significant rally after forming a bullish technical pattern.
With 69,000 followers on the social media platform X, Martinez points out that SOL is possibly printing an Adam and Eve pattern.
An Adam and Eve pattern is considered a bullish reversal formation as an asset attempts to break through its horizontal resistance after forming a bottom.
According to Martinez,
“Solana might be shaping up for an Adam and Eve pattern, indicating a potential rise to $164. If SOL clears that resistance, we could see a 33% surge toward $220!”
At the time of writing, SOL is trading at $158, showing a slight increase over the past day.
Zooming in on another large-cap altcoin, Martinez highlights BNB, the native token of the BNB Chain ecosystem, which appears bearish according to the Tom Demark (TD) sequential indicator.
The TD sequential indicator is a technical analysis tool designed to identify trend exhaustion and potential price reversals based on the closing prices of a specific number of periods.
Martinez’s chart shows the indicator flashing a bearish signal just below the $600 mark for BNB.
As per Martinez,
“The TD Sequential presents a sell signal on the BNB daily chart!”
At the time of writing, BNB is trading at $570, down over 1% on the day.
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