Dogecoin (DOGE) is signaling new activity. Renowned analyst Ali Martinez has announced expectations for the recent recovery of Dogecoin's price. He notes a significant buy signal given by the Tom DeMark (TD) Sequential Indicator for DOGE.
Technical analysis of Dogecoin shows optimism
In a recent post on the X social media platform, Ali Martinez pointed out that the TD Sequential Indicator has provided a buy signal on Dogecoin's four-hour chart. He expressed that this indicator often predicts trend reversal points in price. Martinez stated, "TD Sequential indicates the price recovery potential of Dogecoin," supporting the optimistic atmosphere in the market.
Additionally, Martinez has highlighted significant whale movements related to Dogecoin recently. He emphasized that large-scale Dogecoin investors have purchased over 90 million DOGE in the past two days. Such purchases may reflect the confidence of market participants in future price increases.
Concerns about the decline of Bitcoin continue
Despite the optimistic outlook for Dogecoin, concerns about Bitcoin (BTC) persist. Ali Martinez points out that traders should be cautious if the price of Bitcoin drops below $92,730. Based on Glassnode data, he notes that the next support level for Bitcoin is around $69,000, warning that a drop of 20 to 30 percent below these levels could be the most optimistic scenario.
These analyses indicate that the market is driven by technical indicators and significant investor movements. Currently, Dogecoin is trading at $0.314, while Bitcoin is at $94,671. It is important for participants to strategize based on market conditions and analysts' recommendations.