Shiba Inu, Solana, & Cardano Are All Seeing Buy Signal: Analyst

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	13,749,373,155	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

13,749,373,155

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0018	0.46%	0.3926	0.3926	0.3927

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0018

0.46%

0.3926

0.3927

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.3963	0.3847	0.391	0.3908	0.236800 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.3963

0.3847

0.391

0.3908

0.236800 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:48:30	13.02	0.3926	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:48:30

13.02

0.3926

USD

Price x Volume	Volume	Base Symbol	Related Pairs
6,107,010.99	15,648,001.14	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

6,107,010.99

15,648,001.14

Shiba Inu, Solana, & Cardano Are All Seeing Buy Signal: Analyst

25/06/2024 6:00pm

NEWSBTC

An analyst has pointed out how Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator. Shiba Inu, Solana, & Cardano Form Buy Signal Following Market Crash In a new post on X, analyst Ali Martinez has talked about how a Tom Demark (TD) Sequential signal has formed for Shiba Inu, Solana, and Cardano recently. The “TD Sequential” here refers to an indicator in technical analysis (TA) that’s generally used for finding probable points of reversal in any asset’s price. This indicator typically involves two phases: setup and countdown. In the first of these, the setup, successive candles of the same color are counted up to nine. Once the chart has registered these nine candles, the price may be assumed to have hit a position of turnaround. Related Reading: Bitcoin Forms Bullish Signal That Led To At Least 60% Jump Last 3 Times Naturally, if the setup has completed with green candles, then the asset could be considered to have reached a top. Similarly, if it has finished with a downtrend, the price may be heading towards a rebound to the upside. Once the setup is done, the countdown phase begins. This second phase looks much like the first one, except for the fact that it involves thirteen candles of the same type, rather than nine. When the countdown is over with, the asset could be assumed to have reached another potential point of reversal. It would appear that three altcoins, Shiba Inu, Solana, and Cardano, have just completed a TD Sequential phase of the former type in their daily charts. Here are the graphs shared by the analyst that show this signal forming in the prices of these cryptocurrencies: As is visible in each chart, these altcoins have formed this TD Sequential pattern with red candles, meaning that the indicator is now giving a buy signal for them. The signal has appeared for Shiba Inu and company as a result of the downtrend that they have been experiencing recently. Respite may finally be here for these assets, though, if the indicator is to be believed. Related Reading: Bitcoin Whales Switching To Risk-Off Mode After $61,000 Crash In fact, since the buy signal has emerged, the coins have already started on a rebound. Among these, Solana has particularly stood out with its 9% jump in the past 24 hours. It now remains to be seen how long this renewed uptrend will last for these coins, especially for Cardano and Shiba Inu, who have so far only seen surges of 5% and 4%, respectively. SHIB Price The past month has been a terrible time for Shiba Inu investors as the memecoin has declined by more than 30% in this period, which has sent its price down to $0.0000173. The below chart shows how the coin’s performance has looked like recently. Featured image from Shutterstock.com, charts from TradingView.com

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