Popular cryptocurrency analyst Ali Martinez stated in his statement that the TD Sequential sell signal he previously claimed for the Solana (SOL) daily chart became invalid minutes ago.
The analyst said that following this development, a bullish outlook emerged for SOL. This development occurred when Solana broke the risk line at $198.
According to the analyst, this development may indicate the beginning of another bull trend for SOL.
According to Martinez's statement, this latest development mirrors a similar incident that occurred last December. At the time, the TD Sequential sell signal override caused SOL to cross the risk line, sparking a significant 70% rally before encountering the next sell signal.
The TD Sequential indicator is a technical analysis tool used to identify potential price reversals. Therefore, an invalidation of a sell signal usually indicates a possible upward price movement. However, of course, no technical analyst can give exactly the right signal.
*This is not investment advice.
