Indicator Turns Bullish for Dogecoin (DOGE); Strong Support Confirms Uptrend – Here’s the Target
Crypto analyst Ali noted a development for Dogecoin (DOGE) yesterday. On the 4-hour chart, the TD Sequential indicator flashed a buy signal, indicating potential bullish momentum for the meme coin.
According to Ali, if DOGE maintained its position above the critical support level of $0.141, a rebound to approximately $0.162 is plausible.
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Ali’s chart analysis revealed that the TD Sequential printed a “9” green buy signal. This pattern is commonly recognized as a strong indicator that any prevailing downtrend might be nearing exhaustion.
The “9” signal typically suggests a prime buying opportunity, as the price may be poised for an upward correction.
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Show more +A Close Above Key Support Has Been Confirmed
At the time of the analysis, DOGE was trading around $0.1457 within this 4-hour timeframe. The analyst was looking forward to a close above the $0.141 support level. He mentioned that maintaining this level is crucial for any potential rebound.
A drop below this support would negate the bullish outlook outlined in Ali’s analysis.
Notably, the price recently managed to close above the $0.141 support, finishing at $0.15. This closing price further validates the buy signal identified by Ali. Given this development, the expectation is now set for a rally towards the target of $0.162.
This level aligns with previous price action levels and may act as a resistance zone where selling pressure could emerge if bullish momentum continues.
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