An experienced crypto analyst has shared his insights on the price action of Cardano (ADA) in his latest assessment.
Ali Martinez, a prominent analyst in the crypto space, evaluated the popular altcoin Cardano (ADA) in his recent post.
According to the analyst, the TD Sequential indicator, which has accurately predicted Cardano’s previous tops, is now flashing bullish signals on ADA’s daily chart.
Martinez noted that the indicator is projecting a buy setup on the daily timeframe, which could potentially mark the end of ADA’s corrective phase.
ADA is currently trading at $0.45 at the time of writing and has gained 2.74% over the past 24 hours. However, the price of ADA, the world’s 9th largest crypto by market cap, is down by 22.5% over the last month. ADA’s market cap currently stands at $16.2 billion.
Furthermore, speaking about Bitcoin’s price action, the analyst stated that the TD Sequential indicator is also presenting bullish signals on Bitcoin’s daily chart. According to the analyst, the indicator suggests that BTC is once more signaling a buy setup on its one to four-day candlesticks.
The TD Sequential indicator is known to be a technical analysis tool developed by Tom DeMark. It is designed to identify trend completions and potential price reversals in financial markets.
