Despite Dogecoin (DOGE) experiencing a 12.37% drop in value since the beginning of 2024, there is optimism that it could reach $0.1. Analyst Ali Martinez points to a buying opportunity indicated by the Tom DeMark (TD) Sequential, suggesting a potential upward movement.
The TD Sequential recently presented a buy signal on the #Dogecoin 3-day chart. As long as the $0.074 support cluster continues to hold, $DOGE has a great chance of rebounding to $0.100 or higher! pic.twitter.com/J9fm65nHkf
— Ali (@ali_charts) January 14, 2024
The key factor is whether the $0.074 support level holds, with a break below it potentially leading to further decline. The chart analysis indicates a favorable buy setup, especially for traders who aim to invest in this coin entering at the market price of $0.08.
Source: Santiment
The price-DAA divergence, comparing price action with Daily Active Addresses (DAA), suggests a buy signal, as the price has grown more than the DAA. Technical indicators such as the Exponential Moving Average (EMA), Know Sure Thing (KST), and Relative Strength Index (RSI) also point towards a potential bullish trend reversal, further supporting the possibility of DOGE reaching $0.1 in the near term.
Source: AMB CRYPTO
