Dogecoin Flashes Rare Buy Signal: Is DOGE About to Bounce?
The TD Sequential indicator flashed a buy signal on Dogecoin’s 4-hour chart, suggesting a potential short-term recovery, which recently attracted attention to the cryptocurrency. Despite weeks of declines, the memecoin was trading around $0.218 at the time of writing, staying close to a crucial support zone. Local reversals are frequently preceded by such purchase indications, particularly when positioning and sentiment coincide. The ability of this signal to cause a bounce that stabilizes prices and paves the way for a more robust recovery is thus being actively watched by traders.
Dogecoin’s Cup-and-Handle Pattern Could Trigger Explosive Gains
A growing cup-and-handle structure that might support Dogecoin’s next breakthrough was noticed on the daily chart. If the price breaks through the neckline barrier, this pattern indicates a bullish continuation. In order for momentum to increase, the critical resistance levels of $0.244 and $0.277 had to be overcome. If verified, DOGE might continue to rise toward the structure’s predicted aim of $0.42. But if these obstacles aren’t broken, bulls could get trapped. In order to ascertain whether this bullish setup will maintain its upward potential, the upcoming sessions are crucial.
DOGE Market Sentiment Turns Bullish as Long Accounts Surge
With 75% of long accounts dominating and only 25% of short accounts, market sentiment on Binance derivatives is now very positive. This skew indicates that traders expect a recovery, which is consistent with upward-pointing technical patterns. However, if the price retraces, such extensive long-term exposure may raise the chance of cascading liquidations. In addition, the solid posture offers liquidity support, which can help Dogecoin overcome short-term obstacles. Thus, this is an intriguing setup for traders looking for upward continuation due to the combination of bullish chart structures and long dominance.
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