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Top analyst Ali Martinez has revealed a crucial buy signal for Solana (SOL). The crypto market has been undergoing a bearish phase in the recent past, and SOL has also struggled to achieve new highs. However, it appears that the tide is turning for Solana.
Martinez revealed that the TD Sequential indicator of SOL has shown a key buy signal on the daily chart. According to him, this means that a potential price rebound is in the cards. In addition, Martinez mentioned that this rebound will happen for one to four daily candlesticks on the SOL price chart.
The TD Sequential indicator is a widely used analysis tool. It is used to analyze market movements and identify the time of trend exhaustion, as well as potential price reversals. Combined with the candlestick analysis on the price chart, this crucial tool can predict market movements.
In the case of Solana's chart, the TD Sequential indicator is giving buy signals after the recent price correction. If history is any guide, it can be assumed that a rebound is coming for Solana. This rebound, awaited by the bulls, can be for the short term. However, it can set the pace for further price gains.
What to expect from Solana's price?
As of press time, Solana is trading at $132.64, after a surge of 2.88% in the last 24 hours. This is a slight gain, but it is still crucial, as other coins have failed to show any momentum during this time. Moreover, the SOL price is up 12.84% in the last 30 days, which is a crucial development.
Most of the coins, like Bitcoin (BTC) and Ethereum (ETH), are down 8-10% on average during this time. This means that Solana is one of the best performing assets on the market right now. It has managed to absorb the negative pressure and is now preparing for a notable rebound, as highlighted by Ali Martinez.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Tomiwabold Olajide
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