Renowned cryptocurrency analyst, Ali Martinez, recently provided his insights on the trajectory of Cardano’s (ADA) price in his latest assessment. Martinez highlighted the TD Sequential indicator, which accurately predicted the peak of Cardano’s price, and noted that it is currently indicating a bullish signal on ADA’s daily chart. The analyst stated that the indicator is projecting a potential rebound in ADA’s price, signaling the end of its correction phase.
As of the time of writing, ADA is trading at $0.45, reflecting a 2.74% increase over the past 24 hours. However, over the last month, ADA has experienced a decline of 22.5%. Despite this, ADA remains the 9th largest altcoin globally, with a market capitalization of $16.2 billion.
Additionally, Martinez discussed the Bitcoin price, revealing that the TD Sequential indicator is also indicating a bullish sign on Bitcoin’s daily chart. According to the analyst, this indicator suggests a potential rebound in Bitcoin’s price within the next one to four days.
The TD Sequential indicator, developed by Tom DeMark, is a widely recognized technical analysis tool used to identify trend reversals and potential price movements in financial markets. It operates on the principle that prices often follow specific patterns before reversing or continuing in the same direction.
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