The TD Sequential indicator has recently shown buy signals for Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB). This buy signal comes after a recent market shakeout that led to many altcoins hitting new multi-week lows. As a result, a bullish trend is emerging in the altcoin market, with SOL, ADA, and SHIB all displaying signs of recovery.
This presents a prime opportunity for patient investors to acquire these prominent altcoins, as indicated by a reliable technical indicator. The news has sparked optimism among market participants, who are eagerly anticipating a potential rebound in the prices of these altcoins.
A well-known on-chain analyst, Ali Martinez, recently shared on X (formerly Twitter) 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 lead to substantial gains for investors.
Interestingly, the buy signal appeared after the recent market shakeout, during which most altcoins hit new multi-week lows. For example, Solana retested the $123 price point, a level last seen eight weeks ago on May 2, indicating a significant price correction.
Shiba Inu also 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.
With the TD Sequential indicator suggesting a potential bull reversal for Shiba Inu, Solana, and Cardano, supporters of these altcoins may now anticipate a short-term relief rally. Notably, a bullish trend is already taking shape in the altcoin market at press time, with several coins showing signs of recovery.