XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals
One analyst pointed out that XRP and Solana are the altcoins that just observed a Tom Demark (TD) sequential buy signal on the 4-hour price.
Four Altcoins See Buy Signal on TD Sequential
in a new postal Over at X, analyst Ali Martinez talked about the TD sequence signals seen on the 4-hour chart of four different altcoins. this”TD sequential” is an indicator Technical Analysis (TA) Used to locate possible turning points in the price of a given asset.
This indicator involves two phases: setup and countdown. In the first setting, the maximum number of candles of the same color is nine. The nine candles do not have to be consecutive.
Once the counter reaches 9, the setup is complete and it can be assumed that the price has reached a reversal position. If the candle leading to the completion of the setup is green, the TD sequence will mean that the asset has peaked. Likewise, if they are red, the indicator will indicate a shift in direction to the upside.
After the setup is completed, the second phase, the countdown, begins. This phase of the indicator works in the same way, except that this time the candles should count to thirteen. After thirteen candles of the same polarity, the asset can be considered to have reached another potential top or bottom.
Now, below is a chart shared by Martinez showing the completion of the first type of TD sequential phase for four altcoins: XRP (XRP), Solana (SOL), Maker (MKR), and Worldcoin (WLD).
As shown in the chart above, the four-hour prices of XRP, Solana, Maker, and Worldcoin have all completed the TD sequence setup of 9 red candles. This naturally means that the indicator is giving a buy signal for these altcoins.
This pattern has developed as assets across the cryptocurrency industry have collapsed. Fed Be cautious about further interest rate cuts.
If TD Sequential is anything to go by, at least XRP and other altcoins may see some bullish momentum return soon.
Ripple price
XRP fell below $2.18 during a crash earlier in the past day, but the coin appears to have rebounded slightly since then and its price is currently trading around $2.31.
The chart below shows how the asset has performed over the past few days.
