The largest memecoin, Dogecoin (DOGE), experienced a nice rise last week. While investors' expectations about DOGE increased with this rise, a bullish comment came from popular analyst Ali Martinez.
At this point, the analyst stated that DOGE broke out of the multi-year descending triangle formation on the weekly chart and stated that DOGE showed positive signs.
Martinez also pointed out that the TD Sequential indicator gave a buy signal for DOGE and stated that DOGE's bullish outlook was further supported by this buy signal.
“Dogecoin is showing promising signs, breaking out of the multi-year descending triangle on the weekly chart! A buy signal from the TD Sequential indicator in this time frame also strengthens the bullish outlook for DOGE.”
#Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The confirmation of a buy signal from the TD Sequential indicator within this timeframe reinforces #DOGE bullish outlook. pic.twitter.com/ao7VXyxaEa— Ali (@ali_charts) October 29, 2023
Stating that the TD Sequential indicator also gave a sell signal for Shiba Inu (SHIB), DOGE, Cardano (ADA) and Injective (INJ) on the daily chart, the analyst also reminded that there may be a correction before the uptrend continues for these altcoins.
The TD Sequential indicator presents a sell signal on the daily chart of #ShibaInu $SHIB, #Dogecoin $DOGE , #Cardano $ADA, and #Injective $INJ, anticipating a correction before the continuation of the uptrend.Try this trading tactic on @PrimeXBT. Sign up with promo code… pic.twitter.com/6UMd3SRZWo— Ali (@ali_charts) October 30, 2023
$DOGE #DOGE​