Time to Buy Dogecoin Cheap? This Key Indicator Flashes a Massive Buy Signal for DOGE!

Dogecoin (DOGE) price may be approaching a turning point, as the TD Sequential indicator has flashed a buy signal on its three-day trading chart. This signal, identified by crypto expert Ali on X (formerly Twitter), suggests that the recent downward trend could be losing strength, setting the stage for a possible price recovery.

Ali’s tweet highlights that DOGE is “primed for a bounce” following a strong bearish phase. The accompanying chart analysis shows a TD Sequential buy setup, which traders often interpret as a sign that selling pressure has reached exhaustion. This development has drawn the attention of market participants watching for potential price movements.

Dogecoin Recent Price Action and Trend Analysis

Looking at DOGE’s chart, the price has been dropping since mid-January, showing a pattern of lower peaks and valleys. There was a big drop in early March, pushing the downward movement. But after hitting $0.1500, prices have settled down a bit.

The recent candles show the market is unsure what to do next. The small bodies with long wicks suggest sellers aren’t pushing as hard as before. The descending trendline from a previous high is currently being tested, and a breakout above this level could confirm a shift in momentum.

Image Source: X/Ali

DOGE Support and Resistance Levels to Watch

Support seems to be around $0.1500, where buyers have stepped in before. Resistance sits between $0.1900 and $0.2000 – areas that used to be supported before prices fell through.

If DOGE’s price breaks above resistance, it could climb toward $0.22-$0.24. But if it can’t hold current prices, we might see another test of support and possibly more drops.

Read Also: Why Holding XCN Is a Better Investment than Stellar (XLM): Onyxcoin Price Prediction

DOGE Market Scenarios and Price Outlook

From a technical perspective, DOGE is at a critical decision point. If the price breaks past $0.1900, bullish momentum could gain traction. However, rejection at resistance could result in another downturn, possibly pushing DOGE’s price back toward the $0.1500 zone.

With the TD Sequential buy signal in play, traders are monitoring Dogecoin’s movements to assess whether this setup will lead to a sustained recovery or if the bearish trend will persist.

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Boluwatife Afe
Boluwatife Afe

Boluwatife is a dedicated content strategist specializing in the crypto industry and is passionate about blockchain technology and digital currencies. With a keen eye for emerging trends and a talent for making complex topics accessible, Boluwatife aims to educate and inspire the crypto community through engaging and insightful content.

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