The post Solana Might See Epic Rally If This TD Sequential Signal Holds appeared on BitcoinEthereumNews.com.

Solana (SOL) is currently not in a positive spot as its price slump has extended the trailing 7 day losses to 10.37%. At the time of writing, this loss appears to be thinning out, however, there is a projection of a likely change in trend. Solana Bullish Revival Is Imminent In the financial market, the rise and fall in prices is one key feature that has formed a law. While there may be extended periods of drawdown, there is often an imminent rebound. In the case of Solana, top market analyst Ali Martinez has weighed in. According to Martinez, Solana price has hit a major support level at the $141 mark. Taking a look at the Solana chart, the coin dropped to a 24-hour low of $140.12 and recorded a high of $145.54. The $140 price point comes off as the lowest Solana has recorded in the past month. As it stands, the $141 price point if serving as a key support to prevent further slumps. The tides turned swiftly for SOL following the selloff that Bitcoin has recorded recently. After trading for $163 over the past week, immediate succor is needed for long traders with liquidated positions. #Solana has hit a key support level at $141, with the TD Sequential showing a buy signal on the $SOL daily chart! If this support holds, #SOL could rebound for one to four daily candlesticks. pic.twitter.com/AjQX8CGf1d — Ali (@ali_charts) June 15, 2024 Judging by the on-chain signals from TD Sequential indicator, Martinez posited that a buy signal has emerged on the daily chart. This is a bullish signs considering the SOL bears are facing exhaustion from selling. According to the analyst, if the $141 support holds, SOL might print 1 to 4 more daily candlesticks. This insight is crucial for the coin…

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Filed under: News - @ June 16, 2024 3:02 am