The Tom DeMark (TD) sequential indicator, which has more than 25 signals, provides reversal signals for 2 altcoins.
According to the indicator, these 2 altcoins are ready for the return
Solana and Avalanche have reached overbought territory. Therefore, they are preparing a potentially important correction signal. Both altcoin prices are poised for brief corrections after being pushed back by critical resistance areas. SOL is up nearly 29% from last week’s low of $ 30.80 to $ 39.70. The spike allowed the SOL to test the 200-hour moving average on the six-hour chart. Although he attempted several times to break through this resistance level, it did not show sufficient strength to produce a closed candle above it.
The lack of momentum in such a major hurdle led to a 7.9% correction in the past few hours. The Tom DeMark (TD) Sequential Indicator currently offers a sell signal that points to a steeper pullback. If Solana loses the $ 36.80 level as support, a drop towards $ 35 or even $ 33.40 is possible. cryptocurrency.com You can take a look at the accurate forecast of the indicator, which we have mentioned as
The meter sets these levels for AVAX
The avalanche is gaining momentum in the same direction as Solana. AVAX has registered an uptrend of 34% since June 30th. Hence, it failed to break out of the 200-hour moving average on its six-hour chart. The rejection in the region led to increased selling pressure after TD Sequential gave a sell signal.
A close below $ 20 in the past six candlestick hours confirms the pessimistic outlook. Now, AVAX is moving towards the 50-hour moving average at $ 18. From there, it prepares to raise liquidity for a potential rebound.
Given the strength of the recent correction, they must break out of the MA lines to invalidate the bearish view. As a result, they must consistently close above their hourly moving averages of 200. If successful, SOL bets $ 43, AVAX’s first stop will be $ 24.
Solana, the ninth largest cryptocurrency by market cap, is trading at $ 38.86 at the time of writing. It has gained 17.63% since last week. Meanwhile, AVAX’s price has reached over $ 20. AVAX is the 15th largest cryptocurrency by market capitalization. It has risen 24.69% since last week, surpassing the psychological resistance of $ 20. AVAX was in the top 10 cryptocurrencies at one point last year.
Meanwhile, Bitcoin is trading above $ 21,500 all the time. The major cryptocurrency has gained over 10% since last week.
Contact us to be informed immediately on last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And Youtube join our channel!
Disclaimer: Articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, resource, or service in this article.
Warning: Citing Kriptokoin.com news content and quoting by linking is subject to permission from Kriptokoin.com. No content of the site may be copied, reproduced or published on any platform without authorization. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.