TD Sequential Signals Buy for Dogecoin: Major Rebound Ahead?

• The TD Sequential is presenting a buy signal on Dogecoin’s 3-day chart, predicting a rebound of one to four candlesticks.
• Analysts predict Dogecoin could see a massive surge, with potential price increases up to 1,500%.

A recent technical indicator flashing a buy signal for the well-known meme coin suggests that Dogecoin (DOGE) may be about to see a major bullish reversal.

Ali Martinez, a popular cryptocurrency analyst, has emphasized this encouraging sign and hinted at the potential height of Dogecoin’s climb following this reversal.

A Rebound for Dogecoin on the Horizon

Martinez disclosed in a post on X that the TD Sequential is indicating a buy signal on the 3-day chart of Dogecoin, projecting a bounce of one to four candlesticks for DOGE. Dogecoin may reverse to about $0.17, the starting point of its June slump, according to the chart he supplied.

The TD Sequential presents a buy signal on the #Dogecoin 3-day chart, predicting a rebound of one to four candlesticks for $DOGE! pic.twitter.com/elT1hc21vq

— Ali (@ali_charts) June 30, 2024

Owners of Dogecoin, who have been enduring the meme coin’s pessimistic outlook for some time, would appreciate a strong comeback. After Roaring Kitty made her comeback, several well-known meme coins witnessed rises, but DOGE has failed to put up a dramatic surge.

Market Turbulence and Bitcoin’s Influence

Dogecoin was among the worst hit by the current market volatility, with the meme coin suffering the most. As June came to an end, Bitcoin led other cryptocurrencies in a decline. But just as Bitcoin turned around and rose back above $63,000, Dogecoin might also see a strong rebound from where it is now trading.

According to market research platform IntoTheBlock, there is a significant positive correlation between Dogecoin and Bitcoin prices. This suggests that Dogecoin may see a substantial increase in value in tandem with Bitcoin’s recovery.

Meanwhile, as of this writing, the DOGE price is approximately $0.1229, down 2.90% over the previous day, according to CoinMarketCap. It also displays a positive position, with a 0.50% increase over the last seven days.

Prior to this, CNF reported on experts’ confident forecasts that DOGE may see a sharp upswing in value, possibly reaching 1,500%. This optimistic outlook heightens expectations for Dogecoin’s prospective comeback and future performance.