As a seasoned crypto investor with battle scars from numerous market cycles and trends, I can’t help but feel a mix of caution and excitement when faced with the latest TD Sequential sell signal for Dogecoin. Having witnessed its meteoric rise and subsequent corrections in the past, I can’t ignore the recurring pattern that seems to be unfolding.
The TD Sequential indicator on Dogecoin recently displayed a sell signal, yet an expert suggests that the parabolic surge for DOGE might persist despite this.
Dogecoin Is Currently Showing A Pattern Similar To Previous Bull Runs
On the platform X, analyst Ali Martinez has shared insights on a TD Sequential signal that appears to have materialized for Dogecoin’s weekly cost trend. The “TD Sequential” is essentially a technical analysis (TA) tool that highlights potential peaks and valleys in an asset’s price movement.
In this indicator, there are two stages: initialization and timing. During the initial stage, we look for candles of the same color (either all green or all red) up to a total of nine. Once nine candles have been reached, the initialization is considered complete, and a potential reversal in the asset may be imminent during the subsequent phase.
As a crypto investor, I understand that when the candles leading up to the setup’s completion are green, it’s natural for the price to begin trending downwards. Conversely, if the candles are red during this period, it usually signals an upward momentum for the price.
Following the completion of the setup, a thirteen-candle countdown initiates within this phase of the indicator. Much like the setup, this period continues, but for a duration of thirteen consecutive candles. Upon the conclusion of these thirteen candles, the asset can be regarded as potentially reaching another significant point of reversal.
According to the analyst’s shared chart, it appears that Dogecoin has just finished the initial stage of the TD Sequential pattern in its weekly pricing.
From the chart, it’s clear that Dogecoin has completed the TD Sequential setup using nine consecutive green candles. This means the indicator has issued a sell warning for the meme-based cryptocurrency.
Given the track record of this indicator, there’s a likelihood it could cause a decrease in the value of the asset. However, it’s also important to note that history provides insight into another aspect, as Martinez illustrates in the graph.
It seems that during the final phases of the previous two bull runs, DOGE exhibited a comparable TD Sequential setup at the start of the surge, much like the one we’ve seen recently. These indicators typically led to drops in the coin’s value, but the downward trend didn’t persist for long on either occasion. Instead, after a brief pause, the rally resumed each time.
If this ongoing pattern continues, the most recent TD Sequential sell signal might just serve as a brief hurdle in the upward movement of the cryptocurrency’s value.
Observing the chart, it appears that the latest two surge phases of Dogecoin can be neatly contained within an ascending parallel channel. This pattern has persisted throughout the current cycle as well, suggesting that if Dogecoin continues to climb, it could potentially breach the $14 barrier by breaking through the upper boundary of the channel.
Time will tell if the asset will follow the same pattern as before or if this cycle will deviate from the previous two.
DOGE Price
Over the past fortnight, Dogecoin’s growth appears to have paused, with its value hovering near the $0.41 level without significant upward or downward movement.
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2024-11-30 02:10