The overall cryptocurrency market has been experiencing continuous downside momentum for the last few weeks, but it is now signaling potential recovery. Today, on June 25, 2024, a crypto analyst posted on X that a technical indicator, TD Sequential is indicating a buy signal for top altcoins like Solana (SOL), Cardano (ADA), and Shiba Inu (SHIB) on a daily time frame.
The TD Sequential presents buy signals on the daily charts of #Solana, #ShibaInu, and #Cardano, anticipating a price rebound for these #altcoins! pic.twitter.com/P8ZOYm9qTu
— Ali (@ali_charts) June 25, 2024
Buying signals for SOL, ADA, and SHIB
However, in the last 24 hours, out of these three altcoins, SOL and ADA have experienced price surges of 7% and 3%, respectively, whereas SHIB has remained stable. Regarding the world’s biggest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) have also been struggling to gain momentum recently. In the last 24 hours, BTC and ETH have experienced price falls of 3.5% and 1.5%, respectively. Despite several signals or indications, the overall sentiment remains negative.
Solana (SOL) technical analysis and key levels
Currently, Solana is trading near $134. In the last 24 hours, it has experienced a price surge of 7%, although in the last 7 days, its price is down by 3%. According to expert technical analysis, SOL is still bullish as it is moving above the 50 and 200 EMA (Exponential Moving Average). After a significant fall yesterday, June 24, 2024, it took support from the 200 EMA and formed a strong daily bullish candle closing.
If SOL gives a candle closing above $137 on a daily time frame, we may see a price surge of 12% in the coming days, potentially reaching the $152 level.
Cardano (ADA) technical analysis and key levels
Cardano (ADA) is currently trading near $0.39. In the last 24 hours, it experienced a price surge of 3.5%, and in the last 7 days, its price is up by 2%. According to expert technical analysis, ADA is looking bearish as it is moving below the 50 and 200 EMA. However, after the recent fall, it took support from a crucial demand zone and is moving upward.
ADA still has the potential to surge 15% and may hit the $0.45 level if the market sentiment changes; otherwise, consolidation may continue in the market.
Shiba Inu (SHIB) technical analysis and key levels
Shiba Inu (SHIB) is currently trading near $0.0000171. In the last 24 hours, it experienced a price surge of 0.7%, but in the last 7 days, its price has fallen by 6%. According to expert technical analysis, SHIB is looking bearish as it is lagging behind the 50 and 200 EMA. Additionally, SHIB appears weak and may fall another 10% in the coming days.
There is fear among investors as both retail investors and whales are dumping their SHIB holdings, signaling a lack of interest and confidence.
