A popular crypto analyst says there are technical signals that suggest top meme token Dogecoin (DOGE) may be poised for a rebound.
Ali Martinez say His 104,600 followers on social media platform X claimed that the Tom DeMark (TD) Sequential Indicator is showing a bullish signal for DOGE.
“TD Sequential is dogecoin doge Expect a price rebound on the 4-hour chart! ”
Traders use the TD Sequential Indicator to predict potential trend reversals in a token based on the closing prices of the past 13 bars or candlesticks.
Martinez too memo Dogecoin whales have purchased over $90 million worth of DOGE in the past two days.
DOGE is trading at $0.314 at the time of writing, with a slight decline over the past 24 hours.
Mr. Martinez about Bitcoin (BTC) warn That means traders have to worry if the top-ranked crypto asset by market capitalization falls below a certain price level.
“We don’t want BTC to fall below $92,730. Once we break through that level, it will essentially be in free fall territory.”
Martinez suggests that below $92,730, BTC’s next on-chain support will hover around $69,000 based on Glassnode’s UTXO (Unused transaction output) realized price distribution. An indicator that shows the amount of Bitcoin that last moved within a specific price bucket.
However, while Mr. Martinez is sounding the alarm on the possibility of a fall in BTC, he points out that a correction of 20-30% will occur. represents “This is the most bullish thing that could happen to Bitcoin.”
At the time of writing, Bitcoin is trading at $94,671.
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