A popular crypto analyst says a technical signal suggests top meme token Dogecoin (DOGE) could be primed for a rally.
Ali Martinez tells his 104,600 followers on social media platform X that the Tom DeMark (TD) Sequential Indicator represents a bullish signal for DOGE.
“The TD Sequential represents a buy signal Dogecoin DOGE Four-hour chart, expect price recovery!”
Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candlesticks.
Martinez also points out that Dogecoin whales have purchased more than 90 million DOGE in the last two days.
DOGE is trading at $0.314 at the time of writing, down slightly in the last 24 hours.
Looking at Bitcoin (BTC), Martinez warns that traders should be concerned if the highest-valued crypto asset by market cap falls below a certain price level.
“You don’t want BTC to fall below $92,730 – if that level is broken, it is essentially a free fall area.”
Martinez suggests that below $92,730, the next on-chain support for BTC is around $69,000…
