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The encrypted currency analyst Ali Martinez (@ali_charts) highlighted the reflection of the possible direction of Dogecoin, and revealed that the famous Memecoin may flash with a bullish technical reference to the daily chart. According to Martinez, the TD serial index provided a “purchase signal”, indicating that the price recovery may be on the horizon.
Dogecoin prints TD9 buy signal
The joint graph – which extends on the daily candles of the DOGE/USDT – 10 days of the declining price movement. Dogcoin has declined from its highest level near $ 0.4843 to be traded at approximately $ 0.32, as it decreased by 35 % over the past few days. The most recent candle on the graph is a long black candle (landing), reflecting a marked sale pressure that paid for about $ 0.3200.
“The TD serial server offers a buying signal on the daily graph of Dogcoin, expecting the price to recover!” Martinez to publish Via X. In the heart of Martinez’s note there is TD Sequetial, an artistic tool that is widely respected among experienced traders. It was developed by the market technician Tom Dimark, and TD Sequential aims to determine the points of exhaustion and potential repercussions in the ongoing directions. It works by counting a series of consecutive candles in one direction.
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The index is usually monitored up to nine declining or upscale candles. When the nine count is reached in a continuous declining direction, this often indicates a potential upward turning point – referred to as the “TD9 purchase signal”. On the contrary, nine consecutive closures in the upward trend can indicate a potentially low reflection.
In the most extension settings, the index can continue to count to 13, providing more confirmation, but the “9” signaling itself often attracts immediate attention from traders. On this Dogecoin chart, the TD9 No. TD9 has just appeared, indicating that the daily downward trend may reach the buyer’s attention point. After the candle “9”, the sequence begins at the number “1”, which can indicate the beginning of a new bullish preparation, if the upcoming candles are confirmed to reflect.
Price levels to watch
The most important support zone is at $ 0.313, which is the Fibonacci 0.382 correction level on the daily chart. Keeping the daily closure above this level may enhance the bullish momentum if buyers respond to the TD9 signal. It is likely that any attempt to apostasy is likely to have a preliminary resistance around $ 0.3400, where the landline line is located. The decisive penetration above this (black) line may confirm the validity of the expected direction.
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Although it is far -fetched, the ground restoring the $ 0.4,000 (Fibonacci level 0.5 at $ 0.395) will be a stronger sign of Dogecoin recovery from the downward spiral. In general, Dogecoin is in a decisive location. The TD Sequetial “purchase” preparation does not ensure an immediate increase, but it works historically as a trusted early warning of tired direction.
If the Saudis traders benefit from this signal, Dogecoin may recover prices towards medium -range resistance. In contrast, failure to maintain a $ 0.3100 area may prolong the current declining cycle.
A distinctive image created using Dall.e, a chart of Tradingview.com
