The analyst pointed out that XRP and Solana are among the altcoins that have recently seen a Tom Demark (TD) Consecutive Buy Signal in their 4 price range.
Four Altcoins See Buy Signal in TD Sequential
In a new post on X, analyst Ali Martinez talked about the TD Sequential signal that four different altcoins saw on their 4-hour charts. “TD Sequential” is an indicator from technical analysis (TA) that is used to find points that are likely to change in the price of a particular asset.
The index involves two phases: setup and countdown. During the beginning of this setup, candles of the same color count up to nine. The nine candles do not have to be consecutive.
When the counter hits nine, the setup is said to be over, and the price can be assumed to have reached a reversal point. If the candles leading to the completion of the setup were green, the TD Sequential could indicate the top of the asset. Likewise, if they are red, the indicator will suggest a change of direction to the upside.
The second phase, the countdown, begins as soon as the setup is complete. This section of the indicator works the same way, except that the candles are meant to count up to thirteen instead. After thirteen candles of the same polarity, either up or down can be considered as reached by the stock.
Now, here are the charts shared by Martinez showing the completion of the TD Sequential stage for the first four altcoins: XRP (XRP), Solana (SOL), Maker (MKR), and Worldcoin (WLD).
As seen in the graph above, the four-hour prices of XRP, Solana, Maker, and Worldcoin all completed the TD Sequential setup with nine red candles. This naturally means that the indicator provides a buy signal for these altcoins.
The pattern has stalled as assets across the cryptocurrency sector have slumped following the US Federal Reserve’s cautious approach to interest rate cuts.
If the TD Sequential is anything to go by, at least XRP and other altcoins could be set to see a renewal of bullish momentum soon.
XRP price
XRP dropped to a low of $2.18 during the crash earlier in the day, but the coin seems to have seen a small comeback since then, as its price is now trading around the $2.31 mark.
Below is a chart showing how the stock’s performance has looked over the past few days.
