Renowned cryptocurrency analyst, Ali Martinez, has recently shared his insights on the price movement of Cardano (ADA), one of the most popular altcoins in the market. Martinez highlights the TD Sequential indicator, which accurately predicted the top in Cardano, and states that it is currently showing a bullish sign on ADA’s daily chart. According to Martinez, this indicator suggests a potential rebound in ADA’s price within the next one to four days, signaling the end of its correction phase.
As of now, ADA is trading at $0.45, reflecting a 2.74% increase in the last 24 hours. However, over the past month, ADA has experienced a 22.5% decline in price. Despite this, ADA remains as the 9th largest altcoin with a market capitalization of $16.2 billion.
In addition to Cardano, Martinez also mentions Bitcoin and its price movement. He states that the TD Sequential indicator has also indicated a bullish sign on Bitcoin’s daily chart, suggesting a potential rebound in the next one to four days.
The TD Sequential indicator, developed by Tom DeMark, is a popular technical analysis tool used to identify trend reversals and potential price reversals in financial markets. It operates on the principle that prices tend to follow certain patterns before reversing or continuing in the same direction.
It’s important to note that the information provided in this article is not investment advice. Investors interested in cryptocurrencies can register with Binance exchange for a 20% commission discount to explore and invest in over 300 different cryptocurrencies.
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