Peak Opportunity for Patient Investors to Buy Prominent Altcoins: Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB)
The peak opportunity may have arrived for patient investors to buy prominent altcoins like Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB), as indicated by a reliable technical indicator.
In a recent post on X, renowned on-chain analyst Ali Martinez revealed that the TD Sequential indicator has signaled buy opportunities for SOL, ADA, and SHIB on the daily timeframe. Accordingly, he predicted a significant rebound for these notable altcoins.
These altcoins have hit their lowest levels in 2024, which prominent market watchers see as a bullish sign, further supported by continued whale accumulation during the market downturn.
Beyond the technical indicator suggesting an altcoin reversal, overall sentiment in the cryptocurrency market has improved. Solana reached an intraday high of $138.97, up about 13% from its low of $123. Cardano approached the $0.4 mark after a 7.4% increase, and Shiba Inu similarly gained, hitting a low of $0.00001765. These positive gains come as Bitcoin remains stable around the $61,000 threshold.
Meanwhile, supporters of SOL, SHIB, and ADA may now look forward to a short-term rally amidst the TD Sequential buy signal. Interestingly, the bullish trend is already forming in the altcoin market at the time of writing.
Shiba Inu, Solana, and Cardano have confirmed bullish reversals. Despite Cardano’s high of $0.807 on March 14, the asset has since dropped nearly 55% to its low of $0.3666. Cardano has been one of the most affected by the ongoing market decline. Yesterday, it recorded a low of $0.3667, despite entering this range seven days prior. ADA was last seen around the $0.36 area on November 18, 2023, essentially surrendering all gains accumulated in 2024.
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Similarly, Shiba Inu bottomed at $0.00001642, marking a 38% drop from its June 5 high of $0.00002627. This decline mirrors some of its previous highs, during which most altcoins reached new multi-week lows. For example, Solana retested $123, a price point last seen eight weeks ago on May 2.
The general market sentiment is cautiously optimistic, with some concerns that Bitcoin may decline further in the coming days, potentially impacting altcoins. However, this does not negate the broader bullish trend.
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