In a recent analysis, renowned crypto analyst Ali Martinez has painted an optimistic picture of Solana’s future price movements. Martinez’s bullish outlook stems from a significant development on Solana’s daily chart: the invalidation of the TD sell signal. This event marks a pivotal moment for SOL, suggesting a potential shift towards a bullish trajectory.
The TD sell signal, a key indicator used by traders to gauge market sentiment and potential price reversals, has been rendered invalid, indicating diminishing selling pressure and a potential surge in buying interest.
Solana’s (SOL) Poised for a Potential Surge of 70%
This validation of the bullish momentum is exemplified by SOL’s decisive breakthrough of the setup risk line at $198. Such a breach not only signifies a break from the previous bearish trend but also sets the stage for a new countdown towards another sell signal, albeit from a higher price level.
A recent break, as can be seen on Solana’s chart, is reminiscent of an unbelievable event from December last year. Since then, when the TD sell signal failed, it became a trigger, and $SOL flew higher than its setup risk line. This led to an exceptional 70% rise in the price of Solana before meeting the other sell signal.
The historical echo highlights how unique this current moment is and may be used to suggest that there might be a significant upward movement for SOL’s price trajectory. Martinez’s analysis shines like a beacon of hope for those who have invested in Solana, as it signals promising days ahead for the coin.
The invalidated TD sell signal yields quite a bullish sentiment regarding Solana. This demonstrates how resilient as well as viable this new age digital asset is within crypto’s broader space.
Currently, the price of SOL stands at $198.45, accompanied by a 24-hour trading volume of $19.96 billion and a market capitalization of $88.53 billion. Over the past 24 hours, the SOL price has experienced a sight decrease of 1.73%.
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