As a seasoned crypto investor with several years of experience under my belt, I’ve learned to keep a keen eye on technical analysis indicators like the TD Sequential. This tool has proven to be quite effective in identifying potential reversal points for various assets, including Solana (SOL).
A market analyst has noted that Solana is exhibiting three separate TD Sequential sell signals across its charts. This observation could indicate that a cooling off period may ensue for this digital asset.
Solana Has Just Witnessed A Sell Signal On Three Timeframes
Analyst Ali Martinez has written a new piece on X, where he explores the TD Sequential signals Solana is currently encountering based on this technical analysis tool. The term “TD Sequential” signifies an indicator commonly employed among traders to pinpoint potential turning points in the price trend of any asset.
During the initial phase, an identical grouping of candles, be it bullish or bearish, is accumulated up to the ninth one. Once the ninth candle emerges, the TD Sequential signaling system signals that the market price may possibly have reached a turning point.
In simple terms, if the candles preceding the formation of the setup were green, the signal from the indicator would be to sell. Conversely, when there are nine consecutive red candles, this may indicate a bottom or buying opportunity for the asset.
In the second stage, following completion of the setup, a countdown ensues. During this period, the process is similar, but twelve additional candles are included instead of the usual nine. Once all fourteen candles have been lit, it’s likely that the price has reached yet another pivotal point.
I’ve received the graphs from Ali, which illustrate the culmination of a TD Sequential pattern on three distinct Solana timeframes.
Based on the presented graphs, Solana has developed a Technical Analysis of Stock Charts (TD) sequence pattern, indicating an uptrend across its daily, four-hour, and hourly timeframes. This could signify that the coin has possibly reached its peak.
After experiencing a significant surge of over 18% in value during the last seven days, the cryptocurrency may now be signaling a sell opportunity. This development doesn’t automatically mean the end of the bullish trend for the long term, but it could potentially indicate that a brief cooling-off period is imminent.
As a seasoned crypto enthusiast with years of experience in the digital currency market, I’ve come to learn that the blockchain world is full of surprises. Yesterday, I was going through my usual routine of monitoring the latest transactions on various networks when I came across some intriguing data from Whale Alert, a reputable cryptocurrency transaction tracker service. This service had detected a massive transaction on the Solana (SOL) network, which immediately piqued my interest. Given my extensive background in this field, I couldn’t help but wonder about the implications of such a significant transfer. Stay tuned for further updates as I delve deeper into this intriguing development.
Approximately $35.1 million worth of Solana tokens (19,068 SOL) were transferred from an anonymous wallet to Binance in this transaction, possibly moving funds from an individual investor’s self-managed crypto wallet to an exchange.
Individuals often join these platforms with the intention of utilizing specific services, such as selling. Consequently, it’s plausible that the large investor (referred to as a “whale”) decided to make the switch in order to capitalize on the recent price increase experienced by the asset.
SOL Price
Yesterday, Solana reached a peak of $185. However, its price has now dipped to around $180. This could be an indication that the TD Sequential setup might be activating. As an analyst, I would keep a close eye on this development.
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2024-07-23 02:10