A renowned analyst revealed in a recent prediction four cryptocurrencies that have a potential imminent price rise on the horizon. The analysis anticipated a significant price recovery for Bitcoin and market giants Solana, Cardano and Shiba Inu.

In his technical analysis, released on June 25, cryptocurrency expert Ali Martinez highlighted the potential upward breakout in the prices of altcoins Solana (SOL), Cardano (SOL), Shiba Inu (SHIB), in addition to Bitcoin.

“TD Sequential displays buy signals on the daily charts of Solana, Shiba Inu and Cardano, anticipating a price recovery for these altcoins!”

In an interesting development, on June 25th, the three cryptocurrencies, SOL, ADA and SHIB, showed considerable gains following the recent market crash, increasing their prices by 7.2%, 5.0% and 6.1% respectively in the last 24 hours.

Regarding Bitcoin, the analyst noted that the same indicator, TD Sequential, is presenting a buy signal on the Bitcoin daily chart, predicting a recovery of one to four daily candles for the largest cryptocurrency on the market.

“Over the past two years, Bitcoin’s daily RSI has reached oversold territory three times, resulting in $BTC price increases of 60%, 63%, and 198%, respectively. With BTC now below $62,000 and the RSI in oversold territory again, this could be an excellent opportunity to buy the dip!”, highlighted the expert.

At the time of publication, the price of Bitcoin was quoted at US$61,852.42, up 1.2% in the last 24 hours.

Bitcoin price returns to US$61,000, but dominance index presents lowest level since January

After starting the week trading below the US$60,000 level, the price of Bitcoin (BTC) managed to recover in the last 24 hours and returned to the US$61,000 zone.

Traders appear to be spooked by the news that failed exchange Mt.Gox will pay its creditors from July. Around US$9 billion in Bitcoin will be paid starting next week, and this could trigger a wave of liquidation if they sell their tokens.

Furthermore, with investors fleeing to other cryptocurrencies, the Bitcoin market dominance index showed the biggest drop since January. As per TradingView data that was shared by CoinDesk, on June 25, Bitcoin dominance registered a drop of 1.8%, going to 54.34% currently. This is the largest single-day percentage drop since January 12.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/analista-preve-alta-de-precos-para-estas-quatro-criptomoedas-altcoins-e-btc-se-recuperam/



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