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Popular crypto analyst Ali Martinez recently shared an updated outlook on the price trajectory of Cardano (ADA), highlighting a potentially bullish move. Martinez, known for his insightful market analyses, highlighted a notable signal on the ADA daily chart called TD Sequential.
The TD Sequential Indicator, a widely followed technical tool, previously marked the Cardano market top. However, according to Martinez's analysis, it has now shifted gears, presenting a buy signal for ADA. This signal suggests an upcoming rebound, potentially spanning one to four daily candlesticks, which could mark the end of Cardano's recent corrective phase.
Recurrence
Currently, Cardano is the 10th largest cryptocurrency by market capitalization, with its current price hovering around $0.45 per ADA. The token has been going through a rough patch over the past couple of months, experiencing a significant decline from its early March high of $0.81 per ADA.
If Martinez's interpretation of the TD Sequential indicator holds true, investors could expect a reversal of Cardano's fortunes, potentially recouping some of its recent losses. This development comes at a critical time for ADA holders, offering a glimmer of hope amid a prolonged downturn in cryptocurrency markets.
As the ADA community awaits further confirmation of Martinez's analysis, all eyes remain on Cardano's price action in the coming days. If the expected rebound materializes, it could signal a change in sentiment and pave the way for a resurgence in the Cardano token price.