Dogecoin News Today: Dogecoin Hovers Near $0.2198 as TD Sequential Signals Potential Reversal

Dogecoin (DOGE) is holding steady near $0.2198 as the TD Sequential indicator on the 4-hour chart suggests a potential short-term reversal. The indicator has flashed a red “9” candle, a technical signal often associated with trend exhaustion and the likelihood of a price bounce. This development has sparked attention among traders, particularly as it aligns with a recent low near $0.218, a level that appears to be attracting increased buying interest [1].

The signal builds on a previous indicator reading marked under candle “A13,” which had already shown growing support for the coin. Analyst Ali (@ali_charts) noted that the current setup is consistent with patterns seen before short-term rebounds, especially when prices confirm with higher follow-through moves. The 4-hour buy signal has led to speculation that DOGE may be entering a consolidation phase before a potential upward breakout [1].

On the 15-minute chart, DOGE has formed a rising trendline from a recent low, indicating an accumulation phase. The price has bounced between $0.218 and $0.223, staying within a short-term support zone. This suggests that buyers are actively stepping in to support the price ahead of a possible breakout attempt [1].

Despite the positive technical signals, trading volume has declined by more than 24%, according to CoinGecko data, reflecting broader caution among traders. This decline is likely influenced by the wait-and-see approach ahead of the U.S. Federal Reserve’s upcoming policy announcement. However, DOGE remains above its 50- and 100-day moving averages, suggesting that the bullish structure is still intact [1].

Key resistance levels to watch include $0.225, followed by $0.235 and $0.25. A breakout above $0.243 could signal a move toward $0.28, mirroring past price formations. Traders will closely monitor volume and further price confirmation to validate the potential reversal.

The current setup highlights the importance of technical indicators in navigating the volatile cryptocurrency market. While no major fundamental developments have driven the move, the TD Sequential signal and the price structure present a compelling case for a short-term rebound [1].

Source: [1] Dogecoin Price Holds at $0.2198 as TD Sequential Hints at Reversal, Pay Attention to This Setup (https://cryptofrontnews.com/dogecoin-price-holds-at-0-2198-as-td-sequent/)