Dogecoin has seen a modest increase of 0.7%, with its current trading price hovering around $0.149. The cryptocurrency experienced an initial surge earlier in the day, reaching approximately $0.153, before gradually retracing and stabilizing near the $0.150 mark. The overall market sentiment currently indicates mild volatility, with consolidation observed in the $0.149 to $0.150 range.
Over the past week, Dogecoin's price has declined by 2.3%, a trend that aligns with the broader market's performance. In the last two weeks, the coin has fallen by 4.6%, demonstrating continued underperformance. This price action, occurring at a time when the overall cryptocurrency market is attempting to recover, has resulted in mixed sentiments among traders.
DOGE TD Signal Points to Reversal at Key Support
In a notable development, the TD Sequential indicator on the weekly Dogecoin chart is flashing a strong buy signal. This signal, highlighted by the green "13" beneath the most recent candle in a weekly chart shared on X by analyst Ali Martinez, typically appears when a downtrend is losing momentum. It suggests that selling pressure may be diminishing and a price rebound could be imminent.
Recent weekly candles have displayed long lower wicks, which is a strong indicator that buyers have consistently defended the price area between $0.13 and $0.14. This zone is acting as a solid support level, where demand has repeatedly emerged, reinforcing the potential for an upward shift in price.
As frequently explained by Ali Martinez, a completed TD "9" or "13" count often signifies moments where momentum is poised for a reversal. The chart also shows a black upward arrow near the current candle, which hints at a potential breakout attempt.
Should Dogecoin successfully maintain its support above the $0.14 level, the next logical resistance points are anticipated to be around $0.155 and $0.17. These levels have previously acted as stalling points for weekly price structures. A sustained move beyond these resistance levels could validate the bullish TD signal and pave the way for a more significant recovery in the coming weeks.
Dogecoin’s Mini Cycles Point Toward a Potential $0.75 Target
Further analysis from Bitcoinsensus highlights a repeating mini-cycle structure within Dogecoin's price history. This pattern involves an accumulation phase followed by a strong exponential surge. The first two observed cycles saw major breakouts of approximately +190% and +480% respectively, and the current market structure appears to be mirroring this established pattern.
As Dogecoin emerges from its third accumulation phase with a steep vertical price movement, the trendline connecting previous weekly swing highs suggests a potential target zone between $0.70 and $0.75. This indicates that the market may still possess considerable room for upward extension before encountering significant resistance.
Bitcoinsensus notes that this upper price region could also represent the next macro decision point for Dogecoin. If the observed pattern continues to adhere to the long-term exponential curve, the $0.70 to $0.75 area might coincide with a potential cycle peak, similar to how previous breakouts reached the dotted trendline before experiencing a reversal.