Pseudonymous Cryptocurrency Analyst Ali Predicts Dogecoin (DOGE) Price Rebound, Says TD Sequential Indicator Presents Key Buy Signal

The chartist has predicted that the price of DOGE could experience a rebound in the near future.

Pseudonymous cryptocurrency analyst Ali has spotted a crucial buy signal on the three-day chart of Dogecoin (DOGE).

According to Ali, the TD (Tom Demark) Sequential indicator is hinting at a possible rebound in the price of the leading meme coin.

The TD Sequential is a powerful tool employed by technical analysts to identify when an asset is likely to reverse its trend. The indicator was first introduced in 1994 by Tom DeMark, founder and CEO of DeMark Analytics, in his book "The New Science of Technical Analysis."

The strategy is made up of two main components: a nine-candle setup (momentum) and a 13-candle countdown (trend exhaustion). The indicator signals a potential trend reversal as the countdown approaches a specific level. In order for a countdown to begin, a setup must first be established.

At the time of writing, the price of the leading meme coin has remained largely unchanged over the past 24 hours.

As reported by U.Today, Dogecoin managed to hit a major milestone earlier this week, surpassing 90 million addresses.

However, the meme coin lacks potential catalysts that could propel its price higher now that the meme coin frenzy that occurred earlier this year has seemingly died down.

Last month, Dogecoin faced renewed criticism from Ripple CEO Brad Garlinghouse. As reported by U.Today, the prominent executive opined that the Bitcoin parody was not good for the industry.

However, despite facing routine criticism, the seemingly frivolous meme coin remains in the CoinMarketCap top 10 with a market cap of $17.7 billion.

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