Dogecoin trades slightly above $0.071 after briefly slipping under a key level last week. Analyst Ali Martinez says the TD Sequential indicator has printed buy signals on four separate timeframes, while DOGE’s weekly RSI has fallen to nearly 30 — its lowest reading since the summer of 2022.
Dogecoin has been hovering around $0.07 over the past week and currently trades slightly above $0.071, a level the analytics platform Santiment calls vital for its bullish path ahead.
Last week the meme coin briefly tumbled under a key level, prompting analysts to warn that the bears might tighten their grip. But the bulls clawed back part of the losses, and DOGE is once again the subject of a wave of optimistic price predictions — some of which sound quite unrealistic considering the current condition of the market.
TD Sequential prints buy signals across four timeframes
Ali Martinez revealed last week that the meme coin’s TD Sequential indicator had flashed multiple consecutive buy signals, describing the development as a rare setup that could be warning a major bull rally is approaching.
He went further on July 27, saying the indicator had printed buy signals on the monthly, weekly, 3-day, and daily charts. According to Martinez, the alignment is rare: “It’s rare to see this kind of alignment across so many timeframes at once.”
MikybullCrypto added their own bullish case, claiming the token sits on a historical level that could deliver a major 10x rally. The analyst later reiterated the thesis, saying a historical breakout seems about to occur because the squeeze has tightened so far.
Weekly RSI sits at its lowest since 2022
Certain technical indicators support a potential bullish scenario. DOGE’s Relative Strength Index has dropped to nearly 30 on a weekly scale, the lowest point since the summer of 2022.
The tool runs from 0 to 100, and readings around and below 30 usually indicate that an asset has entered oversold territory and could be due for a resurgence. Ratios above 70, by contrast, are interpreted as warnings for an impending pullback.
Traders watch the $0.08 zone
Daan Crypto Trades suggested DOGE could show a real sign of strength if it retraces the $0.08 zone. Alternatively, they opined that a drop to the high timeframe support range between $0.055 and $0.061 is generally good for long term or bear market accumulation.
Joshuwa Roomsburg paid special attention to $0.08 as well, stating that the level could turn a bounce into strength holders can trust.
Source: CryptoPotato
Trading involves risk.
Risk Disclaimer
