Read more: Crypto Expert Analyzes Market Patterns and Key Price Levels for FLOKi, DOGE and ETH
He points out a flag pattern on the three-hour chart, which suggests a possible 37% decline if the trend breaks downward.
In technical analysis, flag patterns can indicate either upward or downward movement depending on their placement within a trend, and in this case, Martinez sees a bearish setup.
Shifting focus to Dogecoin, he highlights an ascending triangle pattern forming on the one-hour chart. Typically considered a bullish sign, this pattern suggests upward momentum if DOGE can break past key resistance.
For Ethereum, Martinez notes that the asset must climb roughly 22% to confirm a bullish trend.
Data from IntoTheBlock suggests that the $2,400 level could act as a major resistance zone, as millions of addresses currently hold ETH at a loss near this price and may sell to break even.
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