Buy signals emerge for Shiba Inu and Cardano as the bull reversal is confirmed

The best time may have emerged for patient investors to buy major altcoins such as Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB), tapping into a reliable technical indicator.

In a recent post on As a result, he predicted a significant rebound for the highlighted altcoins.

Notably, this buy signal emerged after the most recent one market upheaval, during which most altcoins re-established new multi-week lows. For example, Solana retested $123, a price last seen eight weeks ago on May 2.

Similarly, Shiba Inu bottomed at $0.00001642, marking a 38% decline from its June 5 high of $0.00002627. This low is comparable to some of its high values ​​during its initial bullish wave at the end of February.

However, Cardano has been one of the major victims of the ongoing market retracement. Cardano recorded a low of $0.3667 yesterday, although ADA entered this range seven days earlier. Prior to that, ADA was last seen in the $0.36 region on November 18, 2023. Essentially, ADA has given up all of the gains it has accumulated so far in 2024.

Considering that Cardano set a yearly high of $0.807 on March 14, the asset fell by around 55% to its latest low of $0.3666.

The U-turn of Shiba Inu, Solana and Cardano Bull has been confirmed

Meanwhile, SOL, SHIB and ADA supporters may now expect a short-term relief rally amid the buy signal from the TD Sequential indicator. Interestingly, as of this writing, a bullish trend is already emerging in the altcoin market.

Solana hit an intraday high of $138.97, gaining about 13% from the low of $123. Cardano approached the $0.4 mark after a 7.4% increase, and Shiba Inu posted similar gains, reaching a low price of $0.00001765. These positive gains come as Bitcoin remains stable around the $61,000 mark.

Beyond the technical indicator suggesting an altcoin reversal, overall sentiment in the cryptocurrency market has changed became scaryhitting its lowest point in 2024. Prominent market observers see this as a bullish signal, further supported by the continued accumulation of whales during the market decline.

However, some analysts Attention that Bitcoin may retrace further in the coming days, potentially impacting altcoins, although this does not invalidate the broader uptrend.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

-Announcement-

Source