The TD Sequential indicator has recently shown buy signals for Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB), signaling a potential opportunity for patient investors. This comes after a recent market shakeout that led to new multi-week lows for most altcoins. The altcoin market is now showing signs of a bullish trend, with SOL, ADA, and SHIB displaying signs of recovery.
Esteemed on-chain analyst Ali Martinez recently shared on X (formerly Twitter) that the TD Sequential indicator has flashed buy signals for SOL, ADA, and SHIB on their daily timeframe. Martinez predicts a significant rebound for these highlighted altcoins, potentially leading to substantial gains for investors.
Following the recent market shakeout, Solana retested the $123 price point, which was last seen eight weeks ago on May 2, indicating a significant price correction. Shiba Inu also experienced a notable decline, bottoming out at $0.00001642, representing a 38% dip from its June 5 high. Cardano has been severely affected by the market retracement, registering a low of $0.3667, a price range it had entered seven days earlier. Prior to this, ADA was last seen at the $0.36 region on November 18, 2023, indicating that the altcoin has given up all the gains accumulated so far in 2024.
As the TD Sequential indicator suggests a potential bull reversal for Shiba Inu, Solana, and Cardano, proponents of these altcoins may now anticipate a short-term relief rally. A bullish trend is already taking shape in the altcoin market at press time, with several coins showing signs of recovery.
