An analyst has recently highlighted that XRP and Solana are among several altcoins experiencing a Tom Demark (TD) Sequential buy signal on their 4-hour charts. This development offers a glimmer of hope to crypto investors amid a turbulent market.
In a notable update shared on X, analyst Ali Martinez listed four distinct altcoins that have shown this promising TD Sequential signal. For those unfamiliar, the TD Sequential is a popular tool in technical analysis (TA), aimed at identifying potential turning points in the price of an asset.
The process involves two key phases: setup and countdown. During the setup phase, traders track candles of the same color until they reach nine. It’s important to note that these nine candles do not need to occur consecutively. Once the count hits nine, the setup is considered complete, indicating a possible price reversal. If the preceding candles are green, it may suggest a potential top; if red, it hints at a possible upward shift.
After the setup, the countdown phase starts, where traders count to thirteen candles of the same color. Completing this phase could signal another potential top or bottom.
Martinez shared charts indicating that XRP, Solana, Maker (MKR), and Worldcoin (WLD) have all completed this initial TD Sequential setup marked by nine red candles. This is a noteworthy indication, as it translates to a buy signal for these assets.
As evident from the shared charts, the four-hour prices of these altcoins have all aligned to form this signal, allowing a sense of optimism even as the broader cryptocurrency market grapples with declines, especially following the US Federal Reserve’s cautious stance on interest rates.
This situation comes as XRP’s price dipped to just below $2.18 amidst the market crash, but thanks to recent activity, it’s now hovering around $2.31. This minor rebound could be a sign of better times ahead!
So, as we watch these developments, XRP, Solana, and their fellow altcoins could be gearing up for a moment of renewal. Let’s keep our eyes peeled; the tides may be about to turn for these promising digital currencies!
