Solana is forming a TD Sequential sell signal on the weekly chart right now and this analyst believes a decline to as low as $30 could happen for SOL.
Solana Weekly Chart Is In Process Of Forming A TD Sequential Sell Signal
The “Tom Demark (TD) Sequential” refers to a popular tool in technical analysis that’s used to pinpoint probable tops or bottoms in the price of any given asset or commodity.
This indicator is made up of two phases: the setup phase and the countdown phase. In the former, candles of the same polarity are counted up to 9. After this ninth candle, the metric signals that a likely reversal in the price is occurring now.
Naturally, if the setup occurs with green candles, the signal would be for a probable top, meaning that it could be the time to exit from the asset. On the other hand, the opposite type of candle would imply a reversal from the bearish trend may be taking place.
As explained by analyst Ali in a new post on X, the Solana 7-day chart has recently bee
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