Bitcoin and altcoins initially faced a sell-off due to the uncertainty surrounding the US midterm elections. However, a recovery subsequently occurred in the market, and one analyst pointed to certain altcoins, noting that they were showing potential signs of recovery.
At this point, popular analyst Ali Martinez, in posts from his X account, predicted that six altcoins—Ethereum, Solana, Cardano, Sui, Chainlink, and Aave—could experience price increases.
What is the Target for Ethereum?
According to the analyst, Ethereum fell from $2,806 to $2,171, losing approximately 22.64% of its value. The analyst noted that a TD Sequential buy signal formed on the 3-day chart, indicating that the correction may be nearing its end.
According to the analyst, if buying pressure increases, the first target for ETH will be $2,500. If this level is also surpassed, the next resistance level of $2,700 may come into play.
Solana’s $90 Support is Important!
The analyst noted that Solana also experienced a 27.3% drop, falling from $124 to $90. Similar to Ethereum, he stated that a TD Sequential buy signal had formed on the 3-day chart for SOL.
At this point, the analyst added that if the $90 support level holds, the SOL price could recover first to $105 and then to $120.
Buy Signal After Sharp Drop in Cardano!
The analyst noted that Cardano experienced the sharpest decline among the three altcoins, with ADA’s price losing 35 percent of its value.
The analyst noted that, similar to ETH and SOL, a TD Sequential buy signal has formed on ADA’s 3-day chart, and that critical levels in a potential recovery are $0.226 and $0.26.
Three More Altcoins Show Buy Signals!
The analyst stated that besides Ethereum, Solana, and ADA, Sui, Aave, and Chainlink are also giving buy signals.
According to the analyst, a TD Sequential buy signal has formed on the 3-day charts of SUI, AAVE, and LINK, indicating a potential recovery and pointing to levels to watch.
Firstly, the $0.9 level is a critical resistance for SUI, and the analyst stated that if this level is breached, the price could rise to $1.1 and then to $1.2.
Secondly, AAVE is also among the altcoins giving a buy signal, and the analyst states that if buying pressure strengthens, the first target for AAVE is $146. If this level is surpassed, the resistance at $176 may come into play for AAVE.
The analyst, pointing to LINK as the latest altcoin to give a buy signal, notes that $11.3 is being watched as a significant resistance level. If this level is broken, the next targets for LINK are $12.7 and $14, respectively.
*This is not investment advice.
