Dogecoin has been showing signs of recovery since its fall from $0.07, which started around August 13. Although it is still within a consolidation between $0.057 and $0.064, the price got support around $0.057 and is presently at $0.06. Analysts are seeing the potential for the price to move further.
A Potential Move to $0.07
According to Ali (@ali_charts), the TD Sequential indicator is presenting a buy signal on the DOGE weekly chart that could lead to further upswings if the price can sustain a close above $0.062. Ali believes this buy signal shows Dogecoin is ready to start a new uptrend, potentially up to $0.070.
The TD Sequential Indicator is a technical analysis indicator that identifies buy and sell signals in the market. It helps traders determine potential turning points and trends.
Another Analyst Sees a Big Move Coming
Grace Williams (@GraceWilli90) another crypto trader, also provided insight that DOGE is setting up for a significant move once it breaks its downward triangle. Grace believes DOGE is positioned for big movement soon and is urging investors to keep an eye on the situation as it develops.
Since Grace’s analysis two days ago, DOGE has continued to rise, moving from $0.05 to $0.06. The TD Sequential Indicator combined with the recent price action suggests Dogecoin may be ready for a substantial breakout movement in the near future.
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The post This Indicator Shows Dogecoin’s Next Direction: DOGE is Ready for a ‘Big Move’ appeared first on CaptainAltcoin.
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