The cryptocurrency market has witnessed an exciting atmosphere this week, created by false rumors regarding the approval of a spot Bitcoin ETF. These rumors spread quickly and caused the market to experience a small-scale rally. However, it was later clarified that these rumors were misleading and the ETF is still not approved.
On the other hand, it was disappointing for some that Dogecoin did not witness impressive price increases like other cryptocurrencies. However, there was a glimmer of hope that excited the meme coin community. An analyst named Ali Martinez believes that DOGE may be ready for an upward trend. in predictions found. Martinez’s technical analysis is based on the TD Sequential indicator and shows a promising buy signal on the weekly chart.
The TD Sequential indicator is a technical analysis tool used to track periods of price movements over time. This indicator plays an important role in identifying potential trend changes in the market. This signal, shown on Dogecoin’s weekly chart, could be an exciting development for many investors.
The potential breakthrough point lies in a sustainable close above the $0.062 level, which could trigger a rise to $0.070.
When the Dogecoin price chart shared by Martinez is examined, it appears that the meme coin has found a foothold after the long-term decline that started in July. Martinez’s analysis shows that DOGE is now poised to rebound towards the 0.5 Fibonacci level.
Of course, any predictions are not accurate as cryptocurrency markets are highly volatile. However, Ali Martinez’s analysis has created hope among meme coin enthusiasts. If Dogecoin indeed follows this path and consolidates above the above-mentioned levels, it could open the door for a rally higher to $0.077 or even $0.083.
You can follow the current price movement here.