- Cardano’s TD Sequential indicator flashed a buy signal on the hourly chart
- Altcoin’s hourly price action registered a downtrend on the charts
Cardano [ADA] hinted at a potential rebound on the charts, as buying pressure followed a bullish technical signal on 28 February. Needless to say, this development has sparked renewed interest in the crypto’s price movement.
Possible bullish or bearish scenarios have emerged too, aiding strategic decisions. This analysis is aimed at equipping traders with data-driven perspectives on the altcoin’s future movements.
Assessing market reversal signals
Cardano’s TD Sequential indicator hinted at a buy signal on the hourly chart. The chart revealed a price of $0.6510, with a prior drop from $0.6950 to $0.5900. An arrow at 09:00 marked the buy signal, following a decline from $0.6500 to $0.6000.
Source: Ali Charts
This pattern pointed to a reversal after nine bearish…
