Dogecoin TD Sequential Indicator Forms New Buy Signal
An analyst has identified a short-term buy signal for Dogecoin based on the Tom Demark (TD) Sequential indicator.
Key Points
- The TD Sequential indicates potential price reversal points by counting candles of the same color.
- A recent setup showed nine green candles, suggesting a bearish turnaround. Following this, Dogecoin experienced a pullback.
- A new TD Sequential setup has appeared with nine red candles, indicating a potential short-term bullish rebound.
- On-chain data reveals that DOGE whales (holding 10 million to 100 million tokens) are inactive, showing no significant buying or selling activities.
As of now, Dogecoin is priced at $0.215, marking a decline of over 3% in the past week.
