Ready To Rocket? Dogecoin Chart Hints At Major Gains Ahead
Cryptocurrency analyst Ali Martinez (@ali_charts) has focused on a potential trend reversal for Dogecoin, revealing that the popular memecoin flashed a bullish technical signal on its daily chart. Martinez said the TD sequential indicator has given off a “buy signal,” indicating that a price rebound may be imminent.
Dogecoin Prints TD9 Buy Signal
Shared Chart – Daily Candlestick Covering the DOGE/USDT Currency Pair – Showing 10 Days of Movement downward price action. Dogecoin has fallen back to around $0.32 from its previous highs near $0.4843, down around -35% over the past few days. The most recent candle on the chart is a long black (bearish) bar, reflecting significant selling pressure pushing the price towards $0.3200.
“TD Sequential presents buy signal on Dogecoin daily chart, price rebound expected!” Martinez release At the heart of Martinez’s observations is the TD Sequential, a technical tool widely respected among experienced traders. TD Sequential was developed by market technician Tom DeMark to identify price exhaustion points and potential reversals in current trends. It works by counting a series of consecutive candles in one direction.
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This indicator typically monitors up to nine consecutive bearish or bullish candles. When the count reaches 9 in an ongoing downtrend, it usually signals a possible bullish turning point, known as a “TD9 Buy Signal.” Conversely, nine consecutive higher closes in an uptrend could signal a potential bearish reversal.
In more extended settings, the indicator can continue to count to 13, providing further confirmation, but the “9” signal itself will usually draw the most immediate attention from traders. On this Dogecoin chart, the TD9 number has just appeared, indicating that the daily downtrend may have reached a point of interest for buyers. After the “9” candle, the sequence restarts at “1”, which could signal the beginning of a new bullish setup if the upcoming candle confirms a reversal.
Price levels worth watching
The most critical support area is located at $0.313, the 0.382 Fibonacci retracement level on the daily chart. If buyers react to the TD9 signal, sustaining a daily close above this level could bolster bullish momentum. any attempt rebound An initial resistance is likely to be encountered near $0.3400, where the descending trend line lies. A decisive break above this (black) line could validate an expected trend reversal.
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While still out of reach, a return to the $0.4000 area (0.5 Fibonacci level at $0.395) would be a stronger signal that Dogecoin has recovered from its downward spiral. Overall, Dogecoin is at Key points. The TD Sequential’s “Buy” setup doesn’t guarantee an immediate move higher, but it does historically serve as a reliable early warning of trend fatigue.
If bullish traders take advantage of this signal, Dogecoin could achieve a price recovery towards medium-term resistance. In contrast, failure to hold the $0.3100 area could extend the current downward cycle.
Featured image created using DALL.E, chart from TradingView.com
