Close Menu
    Facebook X (Twitter) Instagram
    Wednesday, July 30
    X (Twitter) Instagram LinkedIn YouTube
    Chain Tech Daily
    Banner
    • Altcoins
    • Bitcoin
    • Crypto
    • Coinbase
    • Litecoin
    • Ethereum
    • Blockchain
    • Lithosphere News Releases
    Chain Tech Daily
    You are at:Home » Crypto Trader Says Top Dogecoin and Shiba Inu Rival Could Crash 70%, Updates Outlook on Bitcoin and Solana
    Altcoins

    Crypto Trader Says Top Dogecoin and Shiba Inu Rival Could Crash 70%, Updates Outlook on Bitcoin and Solana

    Benjamin LeeBy Benjamin LeeMarch 1, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Cryptocurrency analyst and trader Ali Martinez is warning that a top memecoin could plunge significantly amid the market downturn.

    Martinez tells his 128,900 followers on the social media platform X that Pepe (PEPE) is “about to crash” after breaking down below the lower boundary of a parallel channel it has been trading in for almost a year.

    “Since March 2024, Pepe tends to drop to the lower support trend line and then it rises to the upper resistance trend line. From this level, Pepe tends to drop back to the lower support trend line and from here it rebounds again. But today, Pepe broke below the support trend line. Now a spike in selling pressure could push Pepe into a 70% price correction towards $0.00000316.”

    Source: Ali Martinez/X

    A parallel channel suggests that an asset is trading in an uptrend, printing higher highs and higher lows. A break below the diagonal trendline of the channel indicates that the uptrend has been invalidated.

    Pepe is trading at $0.00000769, down 73% from the all-time high price of $0.00002803 reached in December of 2024.

    Next up is Bitcoin (BTC). Martinez says that the moving average convergence divergence (MACD) indicator is flashing a bearish signal for Bitcoin in the weekly time frame. The MACD is an indicator used to determine trend direction and identify changes in momentum using the differences in the short-term and long-term exponential moving averages.

    “Every time the MACD has a bearish crossover on the weekly chart, Bitcoin has historically seen an average 40% correction. The MACD just flashed another bearish crossover!”

    Image
    Source: Ali Martinez/X

    Bitcoin is trading at $81,645 at time of writing.

    Turning to Solana (SOL), Martinez says that SOL must “defend” the crypto asset’s support level at around $125. Based on Martinez’s chart, it appears he is suggesting that if the $125 support level fails to hold, Solana could plummet to below $70.

    Image
    Source: Ali Martinez/X

    Solana is trading at $143 at time of writing.

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

    Check Price Action

    Follow us on X, Facebook and Telegram

    Surf The Daily Hodl Mix

    &nbsp

    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleThe Altcoins Resisting Bitcoin’s Price Downturn Could Lead the Next Rally, Says Analyst – Here Are His Top Picks
    Next Article NFT sales plummet 28.9% to $107m, Pudgy Penguins sales drop 80%
    Benjamin Lee

    Related Posts

    Coinbase Sparks Altcoin Rallies After Placing Two Projects on Crypto Exchange’s Listing Roadmap

    July 29, 2025

    Why did Conflux price spike 38% today?

    July 29, 2025

    Zircuit price rises sharply as Binance adds ZRC perps

    July 29, 2025
    Leave A Reply Cancel Reply

    Don't Miss

    QPR bets on blockchain to reinvent fan ties in TokenFi kit deal

    MicroStrategy wannabes and the return of mNAV mania

    ETH To Hit All Time High: Buying Levels Revealed

    Max Keiser thinks bitcoin will stop Israel displacing Palestinians

    About
    About

    ChainTechDaily.com is your daily destination for the latest news and developments in the cryptocurrency space. Stay updated with expert insights and analysis tailored for crypto enthusiasts and investors alike.

    X (Twitter) Instagram YouTube LinkedIn
    Popular Posts

    QPR bets on blockchain to reinvent fan ties in TokenFi kit deal

    July 29, 2025

    MicroStrategy wannabes and the return of mNAV mania

    July 29, 2025

    ETH To Hit All Time High: Buying Levels Revealed

    July 29, 2025
    Lithosphere News Releases

    Imagen Network Integrates Grok Framework to Enhance Feed Logic and Adaptive User Experience

    July 29, 2025

    AGII Boosts Contract Logic Tuning to Accelerate Autonomous Efficiency

    July 28, 2025

    Imagen Network (IMAGE) Rolls Out XRP Infrastructure to Strengthen Scalable Social Curation

    July 28, 2025
    Copyright © 2025

    Type above and press Enter to search. Press Esc to cancel.