Accurate Crypto Sell Signal Issued For Two Top Performing Altcoins

Tony "The Bull" Severino

5 years ago

2 mins read

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A pair of altcoins have greatly overperformed Bitcoin in recent weeks, going on powerful rallies both on USD and BTC trading pairs. However, a devastatingly accurate sell signal has now triggered across both of these crypto assets, potentially pointing to a retracement that could wipe out most of the gains generated against the first-ever cryptocurrency.

And if these assets do pull back, where exactly are the levels of support to watch for a potential bounce to occur.

Stellar’s Sudden Recovery Rally Could Come To a Crashing End As Sell Signal Hits Altcoin XLM

The altcoin trading under the XLM ticker has recently staged a massive recovery against Bitcoin, right under the noses of crypto investors who have since written off the lagging cryptocurrency. XLM, alongside its altcoin cousin XRP, has been among the worst performers of the entire bear market.

The crypto asset designed for borderless payments has fallen by over 90% from its all-time high to as low as $0.025 at the bottom of the recent Black Thursday panic selloff.

But following that low being put in, the altcoin has bounced by over 30% against Bitcoin and has grown over 150% on the USD pair. However, these gains could soon retrace, as an accurate sell signal – the TD 9 on the TD Sequential indicator – just triggered on the XLMUSD pair.

The tool has accurately predicting may tops and bottoms in crypto, including Bitcoin’s historic $20,000 peak.

TD Sequential Issues Sell Signal On Tezos On Both XTZUSD and XTZBTC Crypto Pairs

It wasn’t just XLM that got some not-so-stellar news, Tezos also had the dangerous sell signal trigger not only on the XTZUSD price chart but XTZBTC as well. This indicates that a bigger crypto crash could be coming, one that takes Tezos down a few notches in both USD and BTC values.

Unlike XLM that has exploded right out from under the noses of crypto investors who have since forgotten about the asset since it lost its spot within the top ten crypto assets by market cap, the altcoin that replaced it – Tezos – has been the talk of the crypto market alongside Chainlink for much of the year thus far.

Before the big crash, the crypto token had grown well over 200% year-to-date, peaking at nearly $4 per XTZ token, only to fall to under $1. Now, after that low was set, the all-star altcoin is already up well over 175% once again. However, like XLM, the Tezos rally could soon be erased due to the accuracy of the TD 9 sell signal triggered with today’s daily open.

Typically, a new high is set with the 9 candle, perfecting the sell setup, so more upside cannot be ruled out.

Featured image from Pixabay

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.