Recent analysis suggests that Stellar (XLM) might be on track for a recovery thanks to the TD Sequential indicator.
The TD Sequential Buy Signal
Traders use the TD Sequential indicator to identify potential trend reversals. On the hourly chart of XLM/USDT, the signal appears as a green '1' candle following a red '9' count, which typically suggests that selling pressure has been exhausted and a price reversal could be imminent. Martinez’s chart reflects this setup, with a black arrow marking the point where the buy signal was triggered.
Recent Price Action and Market Context
When the chart was published, XLM traded at approximately $0.33944 on Binance. The price had previously declined, forming a series of lower highs and lower lows, but the emergence of the buy signal could indicate a shift in momentum. Technical traders often seek confirmation before acting on a TD Sequential buy signal.
Analyst Ali Martinez’s Broader Market Outlook
Ali Martinez actively provides cryptocurrency market analysis, covering various assets. Recently, he has made significant predictions about XRP, suggesting it is ready for an upswing based on market structure and technical indicators.
While the TD Sequential indicator provides a buy signal, traders should remain cautious and seek further confirmation before making decisions. Market sentiment and broader cryptocurrency trends can influence XLM’s price movement.
