Dogecoin ($DOGE) has recently grasped the crypto community’s attention with a noteworthy move. As per the well-known crypto analyst Ali, the TD Sequential indicator presents a buy signal for Dogecoin ($DOGE). This signal is often considered to be the predecessor of a price rebound. This development has raised optimism among the $DOGE investors and traders. In this respect, the buy signal indicates a likely turning point for the crypto asset.
$DOGE’s TD Sequential Indicator Shows ‘Buy Signal,’ Underscoring Potential Rebound
Ali reports the TD Sequential indicator’s “buy signal” for $DOGE as a bullish sign. Hence, the respective development could lead to a significant price rebound. The TD Sequential indicator operates as a technical analysis instrument that Tom DeMark developed. This tool focuses on the detection of likely turning points in the market.
Currently, in the case of Dogecoin, the TD Sequential indicator highlights a buy signal, increasing the possibility of a price bounce. At the moment, this indicator is signaling a likely purchase opportunity after which a notable price recovery could take place. Simultaneously, the recent price dip of Dogecoin has placed it in a crucial support zone.
Breaking above Resistance Level of $0.34 Could Result in Bullish Momentum
The present price of $DOGE is $0.2173 with a 7.97% increase over the past 24 hours. Nonetheless, the 7-day performance of the crypto asset displays a 10.33% decline. Moreover, in the past month, $DOGE experienced a 36.31% plunge.
According to Ali, the buy signal of the TD Sequential indicator suggests a likely ease in the selling pressure in the near term. Keeping this in view, $DOGE could confirm a bullish momentum if it effectively breaks above the resistance level of $0.34.
