Dogecoin (DOGE) Flashes Major Buy Singal: Analyst
Release: 2024/07/01 02:24 Reading: 858
Dogecoin Presents Key Buy Signal, Indicating a Potential Price Rebound
Technical analyst Ali notes a notable buy signal in the three-day Dogecoin chart, identified by the TD (Tom Demark) Sequential indicator. This indicator suggests that the leading meme coin may experience an upcoming price recovery.
The TD Sequential, a tool employed by analysts to gauge potential trend reversals, comprises two elements: a nine-candle setup and a 13-candle countdown. A reversal signal is triggered when the countdown approaches a specific threshold.
Currently, Dogecoin's price has remained stable over the past 24 hours. Earlier this week, it surpassed 90 million addresses, a significant milestone. However, the coin lacks substantial catalysts to drive further price appreciation.
Despite criticism from Ripple CEO Brad Garlinghouse, who deems it detrimental to the industry, Dogecoin holds its position within CoinMarketCap's top 10, boasting a market capitalization of $17.7 billion.
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