Since the start of the year, the crypto market has become more volatile, with the prices of the cryptos fluctuating with more margin. Bitcoin, for example, surged beyond $100K from the interim lows below $92,000 and further dropped below $90,000 before marching back beyond the range. This displayed huge uncertainty among the market participants, and as a result, the BTC price continues to struggle to secure levels above $100K.
On the other hand, Ethereum and Solana continued to lose their grip over the rally as they consistently failed to hold the local support. Meanwhile, the XRP price displayed immense strength, which resulted in a breakout and entering the 7-year-old range. Regardless of the persisting market dynamics, some technicals have turned bullish for the above-mentioned cryptos, hinting towards a potential trend reversal in the upcoming days.
A popular analyst, Ali, shared data from Santiment, indicating the TD sequential indicator has turned bullish for Bitcoin, Ethereum, XRP, & Solana.
The TD sequential indicator is used to find the exact time of trend exhaustion and a potential reversal. The indicator turning bullish suggests these tokens may soon trigger a strong rebound and begin a consolidated ascending trend. These are the top cryptos within the markets and any change in their value tends to impact the other tokens as well. Mainly Ethereum, as a notable rise in its value may even trigger a strong altseason.
What’s next? Will the bull run be re-instigated?
The Bitcoin price has reached one of the crucial resistance levels and unfortunately is experiencing significant upward pressure. Therefore, the price needs to sustain above $99,000 and eventually break above $100K and mark the interim highs above $102. This move is believed to reinstate the bull run, elevating the BTC price towards a new ATH, probably above $115K.
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