Crypto analyst Ali Martinez said that technical indicators are flashing sell signals for three popular altcoins. The analyst claims that signals previously seen before sharp price declines are appearing again for Near Protocol ($NEAR), Zcash ($ZEC), and $BNB.
According to Martinez, the TD Sequential indicator on Near Protocol’s weekly chart has generated a sell signal. A similar signal in the past led to a price drop $NEAR of 32%. The analyst noted that the altcoin is currently down 24%, highlighting support at $4.30. He said a break below this level could lead to a further decline to $3.76.
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As for Zcash, another technical indicator reportedly flashed a warning signal. Martinez said that the dots on the Parabolic SAR indicator crossed above the price, indicating a downtrend. Previously, a similar signal led to a $ZEC price correction of 54%. Noting that Zcash had fallen by 25%, the analyst said that if the $1,100 support level is breached, the $850 level could come into play.
The third altcoin the analyst warned about was $BNB. Martinez noted that the SuperTrend indicator on the daily chart had turned into a sell signal, recalling that a previous similar signal led to a 26% drop. Saying that the $BNB price had fallen by 8%, the analyst said that if the $710 support level is breached, $680 could be the next target.
*This is not investment advice.
