Analysis has highlighted how XRP and Solana are among the altcoins that have just seen a Tom Demark (TD) series buy signal on their 4-hour prices.
Four Altcoins see a buy signal on the TD series
In new mail on X, analyst Ali Martinez has discussed the TD Sequential signal that four different altcoins have seen on their 4-hour charts. The “TD Sequential” is a sign from technical analysis (TA) used to find likely turning points in the price of a particular asset.
The indicator consists of two phases: position and countdown. During the first of these setups, up to nine candles of the same color are counted. The nine candles do not have to be consecutive.
As soon as the counter hits nine, the setup is said to be complete, and the price may consider that the price has reached a turning point. If the candles before the settlement was completed were green, the TD Sequential would mean a top for the fund. Similarly, if they were red, the signal would suggest a change of direction to the upper side.
The second stage, the countdown, starts as soon as the arrangement is over. This phase of the signal works in the same way, except that candles are to be counted up to thirteen instead this time. After the thirteen candles of the same polarity, another top or bottom could have been reached by the fund.
Now, here are the charts shared by Martinez that show TD Sequential level completions of the first kind for four altcoins: XRP (XRP), Solana (SOL), Maker (MKR), and Worldcoin (WLD ).
As shown in the graph above, the four hour prices of XRP, Solana, Maker, and Worldcoin have all ended the TD Sequential position with nine red candles. This naturally means that the indicator gives a buy signal for these altcoins.
The pattern has evolved as assets across the digital currency sector have fallen after the US Federal Reserve taking a cautious approach towards further interest rate cuts.
If the TD Sequential is anything to go by, at least XRP and the other altcoins could be poised to see some restoration of bullish momentum in the near future.
XRP price online
XRP slipped as low as below $2.18 during the crash earlier in the day, but the coin seems to have seen a slight rebound since then, as its price is now trading around on the $2.31 mark.
Below is a chart that shows how the asset's performance has looked over the past few days.
