Dogecoin recently displayed a buy signal on the daily chart, suggesting that the meme coin could be on the cusp of a parabolic rise.
After showing strong momentum in November 2024 and early December 2024, the crypto market is facing challenges a strong retreat The Federal Reserve recently upended liquidity expectations for 2025 by announcing smaller interest rate cuts than previously forecast.
Amid the run, leading crypto meme coin Dogecoin (DOGE) has been among the worst hit, but a key indicator now suggests some reprieve may be in sight for the asset.
Could this be the start of another parabolic rise?
Dogecoin (DOGE) TD sends sequential buy signal
At the time of writing, Dogecoin is trading around the price point of $0.32065, down 20% over the past week.
But, as recently highlighted According to well-known crypto analyst Ali Martinez, some reprieve may be in sight for the leading meme coin. In an X post on Monday, December 23, Martinez revealed that the TD Sequential indicator had displayed a buy signal on the meme coin’s daily candlestick chart, indicating an impending recovery.
The TD Sequential is an indicator that traders use to attempt to time price reversals, usually taking previous candlestick closes into account.
Interestingly, the latest buy signal follows an analysis by Martinez, suggesting that DOGE is on the verge of a parabolic rise.
Dogecoin (DOGE) rise to $18 confirmed?
Earlier on Monday, Martinez hinted that DOGE could repeat its price action in 2017 and 2021.
In both cases, the dog-themed meme coin saw huge gains after correcting…
