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One analyst noted that Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator.
Buy signal for Shiba Inu, Solana and Cardano after market crash
In new mail On the “Sequential TDHere it refers to an indicator in Technical Analysis (TA) that is generally used to find potential reversal points in the price of any asset.
This indicator usually includes two phases: setup and countdown. In the first of these Prove, successive candles of the same color are counted up to nine. Once the chart registers these nine candles, it is assumed that the price has reached the turning position.
Naturally, if the setup is completed with green candles, the asset can be considered to have reached the top. Likewise, if it ends with a downtrend, the price may be headed for a bounce to the upside.
Once the setup is complete, the countdown phase begins. This second stage is very similar to the first, except that it involves thirteen candles of the same type, instead of nine. When the countdown ends, it can be assumed that the asset has reached another potential reversal point.
It appears that three altcoins, Shiba Inu, Solana, and Cardano, have just completed the previous-type TD sequencing phase in their daily charts. Below are the charts shared by the analyst that show the formation of this signal in the prices of these cryptocurrencies:
As can be seen in each chart, these altcoins have formed a sequential TD pattern with red candles, which means that the indicator is now giving a buy signal to them.
Reference to Shiba Inu and company appeared as a result Downtrend These assets have been going through a period of calm recently. But these assets may finally be getting a break, if the indicator is reliable.
In fact, since the buy signal appeared, the currencies have already started to rebound. Among these stocks, Solana particularly stood out with its 9% jump over the past 24 hours.
It now remains to be seen how long this renewed uptrend for these coins will last, especially for Cardano and Shiba Inu, which have so far seen gains of only 5% and 4% respectively.
Ship price
Last month was a tough time for Shiba Inu investors as the memecoin fell by more than 30% in the period, bringing its price down to $0.0000173. The chart below shows how the coin has performed recently.
