- Solana trades at $128.64, up 1.85% in 24 hours after dipping to $123
- TD Sequential “9” buy signal appears on Solana’s weekly chart
- RSI rises from 36.09 to 40.27, showing slowing bearish pressure
Solana (SOL) is showing early signs of recovery after recent declines, with key technical signals pointing to a possible price rebound. A fresh TD Sequential “9” buy signal on the weekly chart is gaining attention among traders, suggesting that the asset may be nearing a bottom.
TD Sequential Signal Shows Possible Turnaround for Solana
At press time, Solana (SOL) is trading at $128.64 with a 1.85% gain in the last 24 hours. The recent recovery follows a decline to around $123, where the price found support and began to reverse.
The weekly chart has triggered a “9” buy signal using the TD Sequential indicator. Market analyst Ali Martinez stated, “Previous signals have correctly marked trend reversals for Solana since March 2023.”
Technical Indicators Show Early Rebound Signs
On the 4-hour chart from TradingView, Solana’s price touched the lower Bollinger Band at $121.64 before bouncing back. The Bollinger Band’s position suggests SOL was in oversold territory when it hit that level. Since then, the price has recovered and is attempting to maintain levels above $128.
The Relative Strength Index (RSI) also supports the recovery attempt. The RSI has risen from 36.09 to 40.27, indicating weakening bearish momentum.
Although still below neutral levels, this uptrend could reflect the beginning of renewed buyer activity. If the RSI continues to rise, it may support further price increases.
Historical Signal Patterns Attract Trader Attention
The TD Sequential “9” signal is a part of a widely used technical analysis tool. It counts price bars to anticipate trend reversals.
Since early 2023, it has successfully flagged several turning points in Solana’s price trends. Traders using this tool now see the current signal as a possible start of a bullish phase.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
