This Solana Indicator Flashes a ‘Sell’ Signal for SOL: Price Drop Ahead? Pay Attention To These Metrics
According to Ali Charts, a top crypto analyst, the TD Sequential indicator has presented a sell signal on the daily chart of Solana (SOL). “The TD Sequential presents a sell signal on the #Solana daily chart!” Ali Charts warned. This technical indicator has been accurate in predicting price drops for SOL. “Since December 2023, every time this indicator suggested selling, the price of $SOL dropped by 17% to 28%,” the analyst noted.
The TD Sequential is a momentum indicator used to identify potential trend reversals. It consists of a series of sequential numbers that fluctuate between positive and negative values. A buy signal is generated when the indicator transitions from negative to positive, while a sell signal is triggered when it shifts from positive to negative.
Potential Downside Targets for Solana
If history repeats itself, the current sell signal could see Solana’s price retrace to $152 or even $127, according to Ali Charts’ analysis. “A similar outlook could see #SOL retrace to $152 or even $127,” the analyst stated. However, it’s essential to note that technical indicators are not always accurate, and other factors may influence the market’s direction.
According to CoinMarketCap, Solana’s price is $172.95 at the time of this writing, with a 24-hour trading volume of $7,198,720,140. Significantly, Solana has risen 12.19% in the last 24 hours, indicating a bullish sentiment in the short term.
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Show more +While technical indicators can provide valuable insights, investors should exercise caution and conduct thorough research before making investment decisions.
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