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The cryptocurrency community had high hopes that October would benefit the sector, but the month ultimately disappointed and ended on a sour note with the $6.3 billion Binance hack.<\/p>\n
The exchange, though, seems to have coped with the major incident, restoring<\/a> withdrawals and reimbursing a large chunk of the stolen funds using its own corporate reserves. According to popular analyst Ali Martinez, Binance’s return to normal has coincided with buy signals emerging for four cryptocurrencies, suggesting a broader market rebound may be underway.<\/p>\n Martinez said the first such token is Cardano’s ADA. He noted<\/a> that its price surpassed $0.28 at the start of October, then crashed 36% to around $0.18 after the Binance attack. The analyst recently said ADA’s TD Sequential flashed a buy signal on the daily chart, hinting that a possible recovery could be incoming.<\/p>\n “If buying pressure picks up and ADA clears $0.20, I’m watching for a move toward $0.23,” he stated.<\/p>\n<\/blockquote>\n His second pick is Algorand (ALGO). According to Martinez, the asset’s TD Sequential posted a daily buy signal after the valuation dipped below $0.09, meaning that the correction could be nearing its end. He believes a decisive breakout above $0.10 could open the door to a further rise to $0.113.<\/p>\n Next on his list is Aave (AAVE). The Binance crisis briefly pushed the token’s price to a monthly low of under $120, but it has rebounded 16% since the TD Sequential flashed a buy signal on October 30.<\/p>\n “If buying pressure continues, the rally could extend toward $155, where the TD setup resistance trendline may become the next hurdle,” Martinez said.<\/p>\n<\/blockquote>\n Last but not least, the analyst paid attention to Raydium (RAY). He noted that a TD Sequential sell alert on October 10 preceded a 30% correction, while a buy signal that emerged on October 18 was a precursor to a 16% rebound. The indicator recently flashed another bullish cue, and if the setup validates, Martinez expects a move toward the resistance trendline near $1.90, a potential 19% increase from current levels.<\/p>\n This isn’t Martinez’s only comment since the Binance hack. Just a few days ago, he made<\/a> an interesting parallel between the incident with the largest crypto exchange and the FTX meltdown<\/a> in 2022, which coincided with a “major market bottom.”<\/p>\n “That’s why I’m not panic selling. I’m using this pullback to build a diversified portfolio of five altcoins for the bull run,” he said.<\/p>\n<\/blockquote>\n The analyst highlighted five altcoins that have supposedly offered strong buying opportunities after the hack. The first is Injective (INJ), which has broken out of a cup-and-handle pattern and could skyrocket toward $18 if buyers hold the $6 level.<\/p>\n Next is Sui (SUI), whose fundamentals “keep strengthening” after the partnership with Samsung Wallet and the collaboration with Alibaba Cloud. Martinez claimed the asset appears to have formed an inverse head-and-shoulders pattern, and if the 3-day 50 SMA near $0.80 holds, then a move toward the $1.30 neckline could come next. “A break above that could put $2 in play,” he added.<\/p>\n The third token he mentioned is Midnight (NIGHT), which has plunged by almost 20% over the past month and currently trades around $0.04. However, Martinez believes it has printed a golden cross on the 3-day chart, and a retest of the 25 EMA could be a potential entry before a jump toward $0.07.<\/p>\n He finished his analysis with PENGU and PROMT, arguing that the former seems to be forming a higher low inside a channel that dates back to February.<\/p>\n “I’m accumulating ahead of a possible retest of the channel top near $0.011. If it breaks out, my next target is $0.016,” he said.<\/p>\n<\/blockquote>\n On PROMT, he noted that its TD Sequential signal flashed a weekly Sequential 13 buy signal, setting a short-term target of $0.028 (a 75% increase from current levels).<\/p>\n Martinez has also outlined potential buy-the-dip levels for the leading cryptocurrencies BTC, ETH, and XRP. If you’re curious, check them out in our detailed article here<\/a>.<\/p>\n The post 4 Altcoins Flash Buy Signals Following the Binance Shock: Here Are the Upside Targets<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\nThe Assets in Question<\/h2>\n
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Buying These Cryptos?<\/h2>\n
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