- The TD Sequential indicator has flashed buy signals for Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB).
- The buy signal emerges after the recent market shakeout, during which most altcoins established new multi-week lows.
- A bullish trend is already taking shape in the altcoin market, with SOL, ADA, and SHIB showing signs of recovery.
The current market conditions may have presented a golden opportunity for patient investors to acquire prominent altcoins such as Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB), as indicated by a reliable technical indicator.
This development has sparked optimism among market participants, who are eagerly anticipating a potential rebound in these altcoins’ prices.
Renowned Analyst Reveals Buy Signals for SOL, ADA, and SHIB
In a recent post on X (formerly Twitter), esteemed on-chain analyst Ali Martinez revealed that the TD Sequential indicator has flashed buy signals for SOL, ADA, and SHIB on their daily timeframe. Based on this information, Martinez has predicted a significant rebound for these highlighted altcoins, which could potentially lead to substantial gains for investors.
Interestingly, the buy signal surfaced following the most recent market shakeout, during which most altcoins established new multi-week lows. Solana, for example, retested the $123 price point, a level last seen eight weeks ago on May 2, indicating a significant price correction.
Shiba Inu, too, experienced a notable decline, bottoming out at $0.00001642, which represents a 38% dip from its June 5 high of $0.00002627. This low is comparable to some of its high values during the initial bullish wave in late February, suggesting a potential reversal point.
Among the altcoins discussed, Cardano has been one of the most severely affected by the ongoing market retracement. Yesterday, Cardano registered a low of $0.3667, a price range it had entered seven days earlier. Prior to this, ADA was last seen at the $0.36 region on November 18, 2023, indicating that the altcoin has given up all the gains accumulated so far in 2024.
As the TD Sequential indicator suggests a potential bull reversal for Shiba Inu, Solana, and Cardano, proponents of these altcoins may now anticipate a short-term relief rally. Interestingly, a bullish trend is already taking shape in the altcoin market at press time, with several coins showing signs of recovery.
