- TD Sequential for SHIB, SOL, and ADA suggest trend reversals.
- As per Ali Martinez, the chances of a price rebound for these tokens are significant.
- SHIB, SOL, and ADA surged 1.22%, 6.50%, and 3.07%, respectively.
Crypto analyst Ali Martinez suggests buying opportunities may have emerged for Solana (SOL), Shiba Inu (SHIB), and Cardano (ADA) following their recent price declines, citing a bullish signal from the TD Sequential indicator.
As noted in a post on X (formerly Twitter), the TD Sequential indicator presents buy signals on the daily charts of Solana, Shiba Inu, and Cardano, suggesting a potential price rebound for these altcoins.
The chart posted shows that these altcoins are exhibiting signs of a trend reversal for nine consecutive candles following the TD Sequential setup. Following the ninth candle, the price action for SHIB, SOL, and ADA turned green, indicating a possible bullish breakout.
Traders can use the TD Sequential indicator to align their strategy with the market movement of an asset and, as a result, time their exit positions. However, it is important to note that the indicator identifies potential trend reversals but does not guarantee them. It is possible that the price action of these assets is showing false signals, leading to losses. Investors are advised to remain cautious and combine the TD Sequential with other indicators like the Relative Strength Index (RSI).
According to TradingView, the RSI for SOL has a value of 37.48, suggesting that the selling pressure is currently quite high. Similarly, the RSI reading for SHIB is 26.36, indicating that the meme coin is currently being oversold, which could present a good time to enter. Finally, for ADA, the RSI value is 36.55, suggesting that the bears are in control at the moment.
In the past 24 hours, SOL has increased by 6.50%, SHIB has surged by 1.22%, and ADA’s price has risen 3.07%, as per the data from CoinMarketCap. These altcoins are priced at $133.73, $0.00001712, and $0.3873, respectively.
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