Stellar Completes TD Sequential Buy Signal Setup
The cryptocurrency Stellar has formed a technical signal that previously preceded a significant price surge. The TD Sequential buy signal emerged on its weekly chart, which is similar to what happened in March when the same pattern occurred before a 95% rally. The current setup ended with nine red candles, indicating a potential upward reversal.
The Tom Demark Sequential indicator is a technical tool that identifies potential price reversals by counting consecutive candles of the same polarity through two distinct phases: the setup phase and the buy signal phase. In this case, Stellar completed the setup phase after nine red candles, suggesting the downtrend may be exhausting itself.
The March signal didn't trigger an immediate rally but required a consolidation period first. Whether this indicator proves accurate again remains uncertain, as historical patterns don't guarantee repeat performances.