- An analyst predicted that Solana could swing upwards due to a signal from the TD Sequential.
- SOL’s price could increase by 12% revisiting the highs it last reached on February 18.
- The MACD revealed that the bullish thesis had not yet been validated but was close.
If the prediction by analyst Ali Martinez is anything to go by, then Solana’s (SOL) price could be set for a rebound. Martinez, in a post on X, noted that the Tom DeMark (TD) Sequential had presented a buy signal on the SOL/USDT daily chart.
The analyst also mentioned that this signal could create four bullish candles on the chart while driving an upswing for the token.
The TD Sequential indicator presents a buy signal on the #Solana daily chart, suggesting a potential upswing that could span one to four daily candlesticks for $SOL. pic.twitter.com/LR0I9Y2diu— Ali (@ali_charts) February 24, 2024
Are Bears Exhausted?
The TD Sequential indicates trend exhaustion and potential price reversals. From the chart Martinez attached to his post, sellers seem to have been exhausted around $99. This created a bullish reversal as Solana’s price climbed above $103.
The post Solana Price Prediction: Will SOL Climb to $120 In the Short Term? appeared first on Coin Edition.