Solana News Today: Solana Rebounds 1% as TD Sequential Signals Bullish Turn Above $180

Solana is showing early signs of a potential rebound following a key technical signal that has reignited bullish sentiment among traders. The cryptocurrency dropped to a low of $178 before triggering a buy signal from the TD Sequential indicator, a widely followed tool for identifying potential trend reversals. This signal has been interpreted by many as an indication that downward momentum has weakened and upward movement could be on the horizon [1].

The price of Solana quickly responded to the signal, climbing past $180 and pushing higher to $187.43 within the 24-hour window. This rebound was supported by repeated price action between $178 and $185, with the cryptocurrency maintaining a firm stance above the critical $180 level. The continued consolidation above this threshold has reinforced the validity of the buy signal and suggested that accumulation may be occurring [1].

On the 4-hour chart, bearish candlestick patterns gave way to smaller, less impactful candles, signaling a slowdown in selling pressure. This shift in structure is often seen in the aftermath of a TD Sequential setup, where a reversal in trend becomes more likely [1]. The confirmation of the indicator came with the appearance of a green arrow beneath the final bearish candle, along with a black arrow that further reinforced the potential for a price reversal [1].

With the support structure holding firm, Solana’s short-term outlook has improved. Technical indicators and price action both suggest that the cryptocurrency is building strength, particularly with the formation of higher lows on intraday charts. The 1% gain over the past 24 hours aligns with this positive momentum and supports the view that Solana is in the early stages of a recovery [1].

Traders are now closely watching the $188 and $190 levels as potential targets for a breakout. A sustained move above these levels could indicate a broader shift in market sentiment and validate the current bullish narrative. However, the market remains volatile, with intraday swings of approximately $7 highlighting the ongoing indecisiveness. Maintaining control above $180 will be crucial for the continuation of the upward trend [1].

The TD Sequential indicator’s influence on Solana’s price trajectory has been a focal point for many analysts and traders, particularly in light of its historical reliability in signaling trend reversals. While the indicator does not guarantee a specific price outcome, its presence in the current context has added a layer of confidence to the bullish case [1].

Source: [1] Solana Signals a Comeback: TD Sequential Flashes Buy Amid $178 Rebound (https://coinmarketcap.com/community/articles/688b225424d51741715aace7/)