Dogecoin Investors Anticipate Price Rally as Analyst Signals Buy Alarm
The Dogecoin price has been struggling to reclaim the $0.2 level since early April, with the meme coin experiencing a descent to as low as $0.14 at one point. However, recent positive price action has sparked optimism among Dogecoin investors, with many experts predicting a bullish run in the near future.
Prominent crypto analyst Ali Martinez has shared an analysis on the X platform, suggesting that a price rally may be imminent for Dogecoin. The TD Sequential indicator has flashed a buy signal on Dogecoin’s daily chart, indicating a potential price upswing lasting between one to four days.
The TD Sequential indicator is used to identify potential points of trend exhaustion and price reversal, with two major phases known as the “setup” and the “countdown.” The completion of the setup phase on Dogecoin’s chart may be signaling a bottom for the meme token’s price, potentially leading to a return to $0.2 if a rally produces four consecutive bullish candles.
As of now, the DOGE price stands at around $0.1618, reflecting a significant 4.7% increase in the past 24 hours. Investors are advised to conduct their own research before making any investment decisions, as investing carries risks.
With the potential for a price rally on the horizon, Dogecoin investors are keeping a close eye on the market for further developments. Stay tuned for updates on Dogecoin’s price performance in the coming days.
Source: https://www.newsbtc.com/news/dogecoin/crypto-analyst-sounds-buy-alarm-for-dogecoin-can-doge-price-reclaim-0-2/
