Dogecoin’s rollercoaster ride has left its investors on edge in the digital currency world. DOGE’s downward spiral has continued since the plunge to $0.2 at the beginning of April. At times, it has even reached a low price of $1.4. Dogecoin’s supporters and the currency itself have a reason to be hopeful despite these difficult times.
Experts in cryptocurrency have been unable to ignore the positive gain made by meme token. It has seen a steady rise over the past seven consecutive days. The market is anticipating that Dogecoin will see a surge in price.
Google News: Follow Us! Ali Martinez is a well-known crypto analyst who made a prediction that sparked this new speculation. Martinez, who is an expert in the crypto-world’s movement, believes DOGE’s current behavior indicates a positive rally coming soon.
Martinez’s analyses are based on the TD Sequential indicator (Tom Demark), a tool that is used to determine potential points of exhaustion of a trend and price reversal opportunities. The TD Sequential Indicator is split into two phases – the “setup” and the “countdown”. The “setup”, which consists of nine consecutive candlesticks, identifies whether or not the token has entered a bearish or bullish trend. After the setup, the next phase is a “countdown”, which unfolds 13 consecutive candles.
It seems that the “setup phase” of nine candles has ended in the context Dogecoin. This could indicate a price shift. The phase is characterized by a large number of bearish candles and may indicate that Dogecoin has bottomed.
According to this analysis, Dogecoin could just return from its ashes, and reach the glory days of $0.2. Investors should be on the lookout for a “countdown phase” that could emerge.
The “countdown”, when completed, could indicate a stronger, longer-lasting price change. The momentum could propel Dogecoin’s current bearish price trend into a higher level of prices.
As it is, Dogecoin has made a significant but slow comeback. Its price, which is currently $0.1618 has seen a 4.7% increase in a single day.
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