While highlighting the bullish signal, crypto analyst Ali Martinez also hinted at how high Dogecoin could rise when this reversal occurs. A Rebound For Dogecoin On The Horizon Martinez mentioned in an X (formerly Twitter) post that the TD Sequential is presenting a buy signal on Dogecoin’s 3-day chart, thereby "predicting a rebound of one to four candlesticks for DOGE.” Based on the chart he shared, Dogecoin could enjoy a reversal to around $0.17, the area in which it began its downtrend in early June. Related Reading: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs A massive rebound for Dogecoin will undoubtedly be a welcome development for its holders, who have had to deal with the meme coin’s bearish outlook for some time now.
He stated that the move towards the breakout target at $0.6533 "may be a matter of time, and prices could be preparing here for a break above.” The crypto analyst seemed confident as he again reaffirmed that a price rally of over 400% to reach this target might already be loading. Related Reading: SEC Serves Fresh Lawsuit To Metamask Developer Consensys – What’s The Problem This Time?
Dogecoin failed to make any impressive rally, while other foremost meme coins rallied following Roaring Kitty’s return. Meanwhile, the meme coin took one of the worst hits following the recent avalanche that plagued the crypto market.
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