One analyst noted that XRP and Solana are among the altcoins that have just noticed a serial buy signal from Tom Demark (TD) on their 4-hour prices.
Four altcoins are seeing a buy signal on the TD sequence
In new mail On X, analyst Ali Martinez talked about the serial TD signal seen by four different altcoins on the 4-hour charts. “TD Sequential” is an indicator from Technical Analysis (TA) used to identify potential turning points in the price of a particular asset.
The indicator includes two stages: setup and countdown. During the first setup, candles of the same color are counted up to nine. The nine candles do not have to be consecutive.
Once the counter reaches nine, the setup is said to be complete, and it can be assumed that the price has reached the reversal location. If the candles preceding the completion of the setup are green, the TD sequence means a top for the asset. Likewise, if it is red, the indicator indicates a change in trend to the upside.
The second phase, the countdown, begins once the setup is finished. This phase of the indicator works in the same way, except for the fact that the candles are supposed to be counted up to thirteen instead this time. After thirteen candles of the same polarity, the asset can be considered to have reached another potential high or low.
Now, here are the charts shared by Martinez showing the completion of the Type 1 serial TD phase for four altcoins: XRP (XRP), Solana (SOL), Maker (MKR), and Worldcoin (WLD).
As can be seen in the chart above, the four-hour XRP, Solana, Maker, and Worldcoin prices all completed a TD Sequential setup with nine red candles. This naturally means that the indicator gives a buy signal for these altcoins.
This pattern crystallized with the collapse of assets in the cryptocurrency sector after the US Federal Reserve took a cautious approach towards further interest rate cuts.
If TD Sequential is anything to go by, XRP and other altcoins may at least be poised to see some renewal of bullish momentum soon.
Ripple price
XRP fell below $2.18 during the crash earlier last day, but the coin appears to have seen a small recovery since then, with its price now trading around the $2.31 mark.
Below is a chart showing how the asset’s performance has looked over the past few days.