According to U.Today, cryptocurrencies Shiba Inu (SHIB), Cardano (ADA), and Solana (SOL) may be on the brink of a significant price rebound. Crypto analyst Ali has indicated that the TD Sequential indicator is showing buy signals on the daily charts for these digital assets, hinting at a possible upswing.
The TD Sequential is a widely used technical analysis tool that helps traders identify potential turning points in market trends. It was developed by Tom DeMark and assists in determining the precise moment of trend exhaustion and potential price reversals. Ali's analysis shows that the TD Sequential indicator is flashing buy signals on the daily charts of Shiba Inu, Cardano, and Solana.
For Shiba Inu (SHIB), the emergence of a buy signal on its daily chart could suggest that the recent downtrend may be losing momentum. If the indicator's signal is accurate, SHIB could see a resurgence in buying activity, potentially driving the price up. The first sign of a bullish turnaround would be a break above the daily SMA 200 at $0.00001891. A subsequent break above the daily SMA 50 at $0.00002288 could fuel the bullish trend, possibly targeting $0.00002940 and $0.0000328. At the time of writing, SHIB had risen 1.45% in the last 24 hours to $0.00001711.
Cardano (ADA) dropped to $0.362 on Monday, its lowest level since November 2023. The TD Sequential buy signal for ADA could suggest that the current bearish trend may be nearing its end. At the time of writing, ADA had increased 4.80% in the last 24 hours to $0.389. If ADA maintains its current rebound, bulls may target the daily SMA 50 at $0.44 and the daily SMA 200 at $0.542. If this proves successful, a 100% rally appears possible, with targets at $0.68 and $0.8.
Solana (SOL) was up 8.91% in the last 24 hours to $135.98 at the time of writing. Solana is attempting a decisive break above the daily SMA 200 at $133, which could be crucial to its bullish momentum. A break over the daily SMA 200 at $156.19 would be a strong indication, aiming for highs of $188 and $204. The next few days will be critical in determining whether SHIB, ADA, and SOL can capitalize on these buy signals and initiate a sustained upward trend.