Solana Down 13%, But This Indicator Just Turned Bullish
Summary
Solana has formed a TD Sequential buy signal on the 12-hour price chart, indicating a potential price reversal. The signal is based on the Tom Demark Sequential indicator, which identifies reversal points through two phases: setup and countdown. The setup phase counts nine candles of the same color, with red candles suggesting a bullish signal. Recently, Solana completed this setup with nine red candles after a 13% price drawdown. However, on-chain data indicates a potential bearish outcome, as a whale transferred 2.86 million SOL tokens (worth $441 million) to Binance, possibly for distribution. Solana's current price stands at $153.90.
