Ethereum

Arbitrum

<div class="dailyhodl">
 <p>A widely followed crypto analyst says that Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB) could be flashing a potentially bullish indicator.</p>
 <p>In a new thread, crypto trader Ali Martinez tells his 61,900 followers on the social media platform X that ARB’s Tom DeMark (TD) Sequential Indicator has presented a buy signal on the asset’s weekly chart.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“It anticipates a one to four candlesticks rebound for ARB!”</em></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GNH6STiWIAEtvst?format=jpg&amp;name=4096x4096" alt="GIjBRxAXAAE-jGP" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Ali Martinez/X
  </figcaption>
 </figure>
 <p>Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles.</p>
 <p>ARB is trading at $1.04 at time of writing. The 47th-ranked crypto asset by market cap is up nearly 2% in the past 24 hours but down more than 30% in the past month.</p>
 <p>Martinez also notes that Bitcoin (BTC) has been consolidating for 70 days.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GNJWaXvWQAEOVwm?format=jpg&amp;name=4096x4096" alt="GIjBRxAXAAE-jGP" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Ali Martinez/X
  </figcaption>
 </figure>
 <p>The analyst says that Bitcoin’s Market Value to Realized Value (MVRV) 90-day ratio indicates the top crypto asset is still in a “prime buy zone” despite its price surge this week.</p>
 <p>MVRV is the ratio of Bitcoin’s market capitalization relative to its realized capitalization (the value of all BTC at the price they were bought). It is used to assess whether the crypto asset is undervalued or overvalued.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GM2PvUSXgAALQZp?format=jpg&amp;name=large" alt="GIjBRxAXAAE-jGP" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Ali Martinez/X
  </figcaption>
 </figure>
 <p>BTC is trading at $63,061 at time of writing and is up nearly 6.7% in the past seven days.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-layer-2-scaling-solution-arbitrum-flashes-potentially-bullish-indicator-according-to-crypto-analyst-tbt88018.html">https://thebittimes.com/ethereum-layer-2-scaling-solution-arbitrum-flashes-potentially-bullish-indicator-according-to-crypto-analyst-tbt88018.html</a></p>

Ethereum Layer-2 Scaling Solution Arbitrum Flashes Potentially Bullish Indicator, According to Crypto Analyst

TheBitTimes

Egyéb ezen a dátumon (2024. máj. 10.) megosztott cikkek

Top Crypto Gainers Today May 10 – Golem, SushiSwap, GMX, OriginTrail

SBI VC Trade, A Japanese Financial Giant, Starts Running the XRP Ledger Validator

BlockDAG Coin’s Leap: Dev Release 25 Ignites 600% Price Surge, Propelling Crypto Evolution with A...

Grayscale ETF Sees Rapid Investment Shifts

Kraken Fires Back at SEC: Highlights Lack of Specificity in Allegations

Polygon (MATIC) Whale Selling Signals Consolidation Ahead

Join our free newsletter for daily crypto updates!