Is Solana Ready to Skyrocket? TD Sequential Buy Signal Points to Major Uptrend

• Solana (SOL) shows signs of a potential uptrend after the TD Sequential buy signal on the 4-day chart.
• The $137.62 level is crucial for Solana, as breaking it could trigger stronger buying pressure and higher prices.
• Sustaining the current momentum could lead to a significant uptrend, but market sentiment and volume are key for confirmation.

Solana (SOL) has a price formation pattern that indicates that it may be primed for a substantial price increase soon. In the recent X post, Martinez highlighted an indication given out by the TD Sequential on the 4-day chart. This signal is referred to as a strong trend, which is generally associated with bulls. The pattern here suggests that after consolidation, Solana may soon experience an uptrend.

Solana Recovery in Motion

The technical analysis indicates a downward trend leading up to the buy signal. The candle structure also highlights a black candle sticks which symbolise that it was a period of bear phase. However, as the TD Sequential indicators get to the buy signal, then this may be the end of the downtrend therefore the beginning of the uptrend. The main focus here is made to the “9” on the chart, which is a familiar spike that indicates possible reversal levels.

The price level also correlates closely with a significant price of approximately $137.62. This price level has emerged as a crucial levels of interest in the past and the chart clearly depicts that after touching lower levels, Solana is now on the recovery mode. Market participants are keen to see if the price will break through this area as it gets closer to it. Any further rise higher than this level could possibly turn the force to buy higher thus confirming the possibility of higher stock prices.

Sustaining Uptrend Momentum

According to Martinez, sustaining above the 137.62 level may lead to a more pronounced uptrend on Solana’s chart. The current price movement corresponds to the previous point indicating that SOL is likely to experience an uptrend in the next few days. As of press time, SOL is trading at $136.86, showing a 1.23% decline over the past day.

Source: TradingView

Nevertheless, they should keep an eye on significant aspects that may hinder the continuation of this rally. Volume and market sentiment will determine if this price bounce is sustainable. If volume subscribes to the upburst, then it will cause further buying pressure. However, there is no charges to indicate that this trend will be permanent; it may reduce and may also shift to the opposite.

Solana is in the process of forming a bullish pattern after the formation of a TD Sequential buy signal which can be associated with a bullish divergence on the chart. The possibilities of experiencing a powerful upward movement for the token may be expected if the price remains above the support level. However traders should be on the look out for a confirmation of such a trend since it has been observed more in interday times.