A researcher has disclosed that both XRP and Bitcoin, among other cryptocurrencies, may be indicating a sell warning based on the Tom Demark (TD) Sequential following the market’s recuperation.
XRP & Bitcoin Among Coins Seeing TD Sequential Sell Signal
In a recent post on X, analyst Ali Martinez discussed the TD Reversal Pattern that has appeared in the past few days among the top four assets within their sector. The TD Reversal pattern is a technical analysis indicator which helps identify potential turning points for an asset’s pricing.
As an analyst, I focus on a strategy that encompasses two key stages: initialization and timing. In the initial stage, I identify consecutive candles of the same color in the cryptocurrency’s chart, accumulating up to nine such candles. It’s important to note that these candles don’t necessarily have to be adjacent to each other.
After the candles are placed, it’s as if the coin has reached a turning point. Typically, this could indicate a change to a downward trend if green candles form the pattern, while a rise would be expected if the candles were red.
Once everything is prepared, we move on to the second stage, which starts with a countdown. Unlike typical countdowns, this one counts down from thirteen instead of nine. The end of this stage is also expected to align with a potential shift in the asset’s performance.
In more straightforward terms, these four digital currencies – Bitcoin, Ethereum, XRP, and Solana – have reached a specific technical indicator phase known as TD Sequential on their 4-hour price charts. An analyst has shared charts illustrating the price trends that led up to this particular signal.
From the provided charts, it’s clear that all these assets have recently completed a TD Sequential setup with nine consecutive green candles. These green candles represent the recovery that the coins have experienced over the past few days.
Based on the analysis of the TD Sequential setup, it appears that the current uptrend in the cryptocurrency market may not persist for much longer. However, so far, coins like XRP, Bitcoin, and others have continued to climb regardless of this signal. The duration of this trend is uncertain at this point.
In other updates, there’s been a rise in whale interactions on the XRP network, as mentioned by Martinez in a separate post.
The graph presents information about the number of significant whale transactions on the XRP network, as monitored by the analytical company Santiment. This metric specifically focuses on the overall count of transactions exceeding one million dollars in value.
Over the past few days, there’s been an increase in the metric, reaching a level of 341. This suggests that there’s a significant amount of activity by the “whales” on the blockchain at present.
XRP Price
At the time of writing, XRP is floating around $2.95, up more than 15% over the last 24 hours.
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2025-01-16 19:00