{"id":104353,"date":"2025-02-23T01:41:07","date_gmt":"2025-02-23T01:41:07","guid":{"rendered":"https:\/\/peraltafinancing.com\/altcoin\/technical-indicator-suggests-defi-altcoin-maker-mkr-primed-for-a-pullback-according-to-crypto-trader\/"},"modified":"2025-02-23T01:41:07","modified_gmt":"2025-02-23T01:41:07","slug":"technical-indicator-suggests-defi-altcoin-maker-mkr-primed-for-a-pullback-according-to-crypto-trader","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=104353","title":{"rendered":"Technical Indicator Suggests DeFi Altcoin Maker (MKR) Primed for a Pullback, According to Crypto Trader"},"content":{"rendered":"


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A technical analysis indicator suggests the decentralized finance (DeFi) altcoin Maker (MKR<\/a>) could be poised for a correction, according to a popular crypto analyst.<\/p>\n

Trader Ali Martinez tells<\/a> his 128,100 followers on the social media platform X that MKR\u2019s Tom DeMark (TD) sequential indicator flashed a bearish signal on its 12-hour chart.<\/p>\n

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>\n

\u201cMaker MKR could be gearing up for a pullback, as the TD Sequential indicator flashes a sell signal on the 12-hour chart!\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez\/X<\/figcaption><\/figure>\n

MKR is trading at $1,441 at time of writing. The 85th-ranked crypto asset by market cap is down nearly 1.5% in the past 24 hours but is up nearly 45% in the past seven days.<\/p>\n

Martinez also shares<\/a> his outlook on the newly rebranded layer-1 blockchain Sonic (S<\/a>), which was previously known as Fantom.<\/p>\n

\u201cI wonder if Sonic has just completed a mini market cycle and is now entering the \u2018anxiety\u2019 phase.\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez\/X<\/figcaption><\/figure>\n

S is trading at $0.854 at time of writing. The 50th-ranked crypto asset by market cap has been trading sideways in the past day but is up nearly 56% in the past week.<\/p>\n

Martinez also notes that crypto whales have been accumulating<\/a> Ethereum (ETH<\/a>).<\/p>\n

\u201cWhales have accumulated another 140,000 Ethereum ETH in the [24 hours]!\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez\/X<\/figcaption><\/figure>\n

At time of writing, ETH is worth $2,679.<\/p>\n

The trader also says deep-pocketed investors are gobbling up the payments altcoin XRP<\/a>.<\/p>\n

\u201cWhales bought over 20 million XRP in the [24 hours]!\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez\/X<\/figcaption><\/figure>\n

XRP is trading at $2.53 at time of writing and is down more than 5% in the past 24 hours.<\/p>\n

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Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n