XRP drops 9.5% as TD Sequential prints a weekly buy signal, while Ethereum shows a bearish setup on its 12-hour chart, leaving traders watching for reversals.
Summary
- XRP fell 9.5% as the TD Sequential indicator printed a weekly buy signal after nine red candles, hinting at a fading bearish trend.
- Ethereum’s 12-hour chart completed nine green candles, triggering a bearish TD Sequential signal that erased recent recovery gains.
- Both TD Sequential signals remain unconfirmed, with traders watching whether reversals emerge or further downside follows.
XRP declined 9.5% as a technical analysis indicator suggested a possible trend reversal, according to cryptocurrency analyst Ali Martinez.
The Tom Demark (TD) Sequential indicator generated a buy signal on XRP’s (XRP) weekly chart, Martinez reported. The TD Sequential is a technical analysis tool designed to identify potential reversal points in asset prices.
The indicator operates in two phases: setup and countdown. During the setup phase, the indicator counts candles of the same polarity up to nine. Upon completion of nine candles, it generates a reversal signal. The signal is considered bullish when preceded by red candles and bearish when preceded by green candles. The countdown phase subsequently counts up to thirteen candles, after which the asset may experience trend exhaustion and a potential reversal.
XRP TD Sequential turn bearish
Martinez’s analysis showed the TD Sequential setup formed on XRP’s one-week chart with nine red candles, indicating the bearish trend may be concluding. The signal appeared as the cryptocurrency’s price declined following a significant drop during the previous trading day.
Ethereum also registered a TD Sequential setup, according to Martinez. The digital asset’s 12-hour chart completed a setup with nine green candles on Saturday, generating a bearish signal. Following the signal’s emergence, Ethereum’s price declined, erasing recent recovery gains.
The TD Sequential indicator’s predictions remain unconfirmed, with market participants monitoring whether the suggested reversals will materialize or if further bearish price action will continue.
Source: https://crypto.news/xrp-drops-9-5-as-td-sequential-hints-trend-reversal/
