Several altcoins including the native token of the XRP Ledger, Solana’s native token SOL, Maker’s governance token MKR, and Worldcoin’s WLD could soon see significant price surges over a key technical indicator that just flashed buy signals for these.
According to data shared by on-chain analyst Ali Martinez, the TD Sequential indicator has just formed buy signals for these cryptocurrencies on their four-hour charts, after a significant cryptocurrency market sell-off that wiped over $300 billion from the space’s market capitalization.
The TD Sequential indicator presents buy signals on the $XRP, #Solana $SOL, #Maker $MKR, and #Worldcoin $WLD 4-hour charts! pic.twitter.com/2MO4Ic1DET
— Ali (@ali_charts) December 19, 2024
The TD Sequential indicator was developed by Tom Demark, and is used to identify the exact time of trend exhaustion and potential points of reversal. It involves counting a series of price bars and comparing them to previous price bars to find exhaustion points.
A buy signal in the TD Sequential indicator appears when the series indicates that the downtrend is likely exhausted and a reversal to an uptrend is probable. This typically happens after a countdown of 9 bars, where each bar closes lower than the bar four periods earlier.
As reported, the cryptocurrency market plunged along with other risk assets after the Federal Reserve cut interest rates by 25 basis points yesterday in a widely expected move and Chair Jerome Powell suggested a potential easing of the interest rate-cutting cycle next year.
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