Bullish Signals for Dogecoin: TD Sequential Setup and Whale Accumulation
Dogecoin ($DOGE ) is showing bullish momentum, backed by positive trends in technical indicators and significant whale activity. These factors could drive the price upward in the near term.
TD Sequential Signals a Potential Price Reversal
The TD Sequential indicator has recently completed its setup phase for Dogecoin on the 4-hour price chart. This technical indicator operates in two phases:
1. Setup Phase:
The setup consists of nine consecutive candles in the same direction. For Dogecoin, this phase completed with nine green candles, signaling a potential reversal.
A reversal after this setup typically implies a top formation if the trend was upward, or a bottom formation if the trend was downward.
2. Countdown Phase:
After the setup, a countdown of 13 candles begins, providing further confirmation of the trend direction.
According to the analyst, Dogecoin has completed the setup phase, suggesting a possible price reversal or consolidation in the short term.
Whale Activity Supports Bullish Outlook
Whales, holding between 10 million and 100 million $DOGE , have significantly increased their holdings.
Recent Accumulation:
Over the past two days, whales have added 90 million $DOGE (~$28.7 million) to their wallets, as per Santiment’s Supply Distribution data.
This accumulation indicates institutional interest and confidence in Dogecoin’s potential.
What This Means for Dogecoin
1. Strong Buy Signals: The combination of the TD Sequential setup and whale activity reflects growing interest and technical support for DOGE’s price growth.
2. Institutional Confidence: Whale accumulation adds liquidity and stability to the Dogecoin network, signaling trust in its long-term potential.
3. Potential Rebound: These indicators suggest a possible price recovery or continuation of bullish momentum as we approach 2025.
Key Takeaways
Dogecoin is poised for further gains if these bullish signals materialize. Investors should monitor the completion of the TD Sequential countdown phase and ongoing whale accumulation to confirm upward momentum.
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