Popular on-chain analyst Ali Martinez on Ethereum (ETH)$ETH
He stated that current market conditions offer a strong risk-return ratio.
In his latest analysis shared with his followers on Twitter, Martinez stated that ETH has formed an ascending channel on its weekly chart, which presents an attractive opportunity for investors looking to take long positions.
“The risk-reward ratio on Ethereum looks quite attractive for a long position! I placed my stop below $1,880 and my target is $6,000,” Martinez said. According to the analyst, ETH is currently holding the lower trendline of the ascending channel as support and a test of $6,100 is expected in the short term.
Bullish Signals in Dogecoin$DOGE
Martinez also stated that there are some bullish signs for Dogecoin (DOGE). According to the TD Sequential indicator, the analyst emphasized that there are buying signals on DOGE's four-hour chart, and if DOGE can maintain the support at $ 0.141, the price could recover to $ 0.162.
In addition, Martinez stated that if DOGE holds the $0.169 level as support, the next resistance level is $0.209. "If Dogecoin breaks through the $0.169 resistance, we could see a 27% rally to $0.209," he said, offering a positive outlook in the short term.
