Top analyst Ali Martinez has revealed a crucial buy signal for cryptocurrency Solana (SOL), which recently has been in a bearish phase.
Introduction
Amid the recent bearish phase of the cryptocurrency market, Solana (SOL) also struggled to achieve new highs. However, according to top analyst Ali Martinez, the situation for Solana may change due to a signal from the TD Sequential indicator.
The Role of TD Sequential Indicator
The TD Sequential indicator is widely used to analyze market movements and identify the time of trend exhaustion as well as potential price reversals. On the SOL daily chart, the indicator showed a key buy signal, indicating a potential price rebound. Martinez reported that this rebound might last from one to four daily candles on the SOL price chart. Following a recent price correction, the buy signal on Solana's chart could mean a short-term rebound.
Expectations for Solana's Price
As of press time, Solana is trading at $132.64, after a 2.88% surge in the last 24 hours. Over the past 30 days, SOL's price has increased by 12.84%, which is a significant development. Unlike other cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), which have dropped by an average of 8-10%, Solana has shown positive momentum. This makes it one of the best-performing assets on the market at the moment, and the signal from the TD Sequential indicator supports expectations for further growth.
Thus, Solana is showing potentially promising signals for short-term growth, and its price may continue to strengthen in the near future.
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