Ethereum
Ethereum Layer-2 Scaling Solution Arbitrator Flashes Potentially Bullish Indicator, Crypto Analyst Says
A widely followed crypto analyst claims that Ethereum (ETH) Arbitrum Layer 2 Scaling Solution (ARA) could flash a potentially bullish indicator.
In a new thread, crypto trader Ali Martinez tell its 61,900 followers on social media platform
“He anticipates a rebound of one to four candlesticks for ARB!”
Source: Ali Martinez/X
Traders use the TD Sequential Indicator to predict potential trend reversals of tokens based on the closing prices of their previous 13 bars or candles.
ARB is trading at $1.04 at the time of writing. The 47th largest crypto asset by market capitalization is up almost 2% over the past 24 hours, but is down over 30% over the past month.
Martinez too Remarks this Bitcoin (BTC) has been consolidating for 70 days.
Source: Ali Martinez/X
The analyst said that Bitcoin’s 90-day market value-to-realized value ratio (MVRV) indicates that the leading crypto asset is still in a “prime buying zone” despite the price rally this week.
MVRV is the ratio of Bitcoin’s market capitalization to its realized capitalization (the value of all BTC at the price they were purchased). It is used to assess whether the crypto asset is undervalued or overvalued.
Source: Ali Martinez/X
BTC is trading at $63,061 at the time of writing and is up almost 6.7% over the past seven days.
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