New Signal for Bitcoin (BTC) and Two Altcoins: Is the Downturn Ending? Technical Analyst Evaluates!

Bitcoin and altcoins are once again facing a sell-off. Under this selling pressure, BTC has fallen back below $82,000, while Ethereum has dropped to around $2,400. However, according to one analyst, Bitcoin, Hyperliquid (HYPE), and Zcash (ZEC) are showing potential recovery signals following this sell-off.

Is Bitcoin’s Recovery Likely to Strengthen? Ali Martinez, a closely watched analyst in the market, pointed to buy signals in all three assets and stated that their next moves would depend on whether key support levels are held. At this point, the analyst first recalled that the TD Sequential indicator gave a sell signal after Bitcoin approached $85,000, and that BTC lost approximately 2.

80% of its value, falling to the $82,000 level. Noting that the TD Sequential indicator generated a buy signal this time after the sell signal, the analyst indicated that the correction may be nearing its end and a new recovery could occur in the coming period. The Critical $82 Level for Hype is Back in the Spotlight!

Secondly, the analyst noted that the TD Sequential indicator also gave a buy signal for HYPE. The analyst also noted that the TD Sequential indicator for HYPE had given a sell signal at its local peak around $82, resulting in a 4. 22% drop in price.

Now, however, the same indicator is generating a buy signal again on the hourly chart. According to the analyst, if the $78 level is maintained, HYPE has the potential to recover towards $82 and higher. Buy Signal in Zcash: $1,250 Support is Critical!

According to the analyst, Zcash is exhibiting similar price movement. Noting that the TD Sequential indicator gave a sell signal near its local peak of around $1,350, the analyst stated that the price subsequently experienced a 6. 44% retracement.

According to the analyst, with the indicator generating a buy signal again, attention for ZEC has turned to the $1,250 support level. If this level is maintained, ZEC may be able to recover towards the $1,350 level. *This is not investment advice.

Continue Reading: New Signal for Bitcoin (BTC) and Two Altcoins: Is the Downturn Ending? Technical Analyst Evaluates!