Shiba InuCardano confirms bullish reversal buy signal appears

Investors in well-known altcoins such as Solar (SOL), Cardano (ADA), and Dogecoin (SHIB) may have found their best buying opportunity, according to a reliable technical indicator.

In a recent X post, well-known on-chain analyst Ari Martinez revealed that the TD sequential indicator has given buy signals for SOL, ADA, and SHIB on their daily timeframes. Therefore, he predicts a significant rally for these altcoins.

Notably, this buy signal comes after the recent market shock, during which most altcoins have reestablished new multi-week lows. For example, Solana retested the $123 level, a level last seen eight weeks ago on May 2.

Likewise, Dogecoin’s lowest point was $0.00001642, down 38% from its highest point of $0.00002627 on June 5. This low is comparable to some of the highs during the initial bull market wave in late February.

However, Aida has been one of the main victims of the ongoing market pullback. Yesterday, the price of Cardano hit a low of $0.3667, although ADA entered this price range seven days ago. Prior to that, the last time ADA was in the $0.36 range was on November 18, 2023. Basically, ADA has given up all the gains it had accumulated so far in 2024.

Considering that Cardano’s yearly high was $0.807 on March 14, the asset has fallen by about 55% to its latest low of $0.3666.

Solar, Dogecoin, ADA bull market reversal confirmed

Meanwhile, supporters of SOL, SHIB, and ADA can now look forward to short-term selling on the buy signal from the TD sequential indicator. Interestingly, at press time, the altcoin market is already seeing a bullish trend.

Solana has hit an intraday high of $138.97, up about 13% from a low of $123. Cardano approached $0.4 after gaining 7.4%, and Dogecoin saw similar gains, hitting a low of $0.00001765. These positive gains come as Bitcoin remains stable around the $61,000 threshold.

Aside from technical indicators hinting at a reversal for altcoins, the overall sentiment in the cryptocurrency market has turned to fear, reaching its lowest point since 2024. Prominent market watchers considered this a bullish signal, which was further supported by whale accumulation during the market decline.

However, some analysts warn that Bitcoin could retrace further in the coming days, potentially affecting altcoins, although this does not negate the broader bull trend.

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