Solana Forms TD Sequential Buy Signal After 13% Price Drop
Analyst Ali Martinez highlighted a recent Solana signal on the Tom Demark (TD) Sequential indicator, suggesting a potential price reversal.
Key Points
- A TD Sequential buy signal has appeared on the 12-hour Solana chart.
- The setup phase involves counting nine candles of the same color; red candles indicate a buy signal.
- Solana's recent analysis showed nine consecutive red candles, following a 13% price drop.
- An inflow of approximately 2.86 million SOL tokens ($441 million) was reported to Binance.
- If this transfer indicates distribution, it could lead to further bearish pressure on Solana.
- Current SOL price stands at $153.90.
