After a long-term downward trend in the Dogecoin price, signals indicating a possible direction change came to the fore. A rare buy signal on the monthly chart has turned investors’ attention back to this asset as the price remains above the critical long-term support zone. The continuation of accumulation in large wallets also strengthened the expectation of recovery in the market.
Critical threshold in technical view
Dogecoin was traded at $0.07330 at press time. The asset’s 24-hour trading volume is $619.51 million and its market value is $11.37 billion. The 6.08% increase recorded in the last 24 hours is evaluated together with signs of improvement in the price structure.
Crypto analyst Ali Charts announced that the TD Sequential indicator on the monthly chart has generated a buy signal for Dogecoin. According to the level pointed out by the analyst, the $ 0.056 region is watched as the main support. It is considered that if this level is maintained, the selling pressure may weaken and buyers may regain strength.
Ali Charts states that the TD Sequential indicator gives a buy signal on the monthly chart, and if the $ 0.056 support is maintained, the first recovery area may be $ 0.16.
TD Sequential is a technical indicator used to detect fatigue and possible turning points in the markets. The signals it produces, especially over long time periods, are followed much more than short-term movements.
Mini dictionary: TD Sequential is a technical analysis indicator that tries to measure whether the price trend is weakening or not. Traders use this tool to identify possible bottom and top areas.
Resistance levels and possible scenarios
If the price remains above the $0.056 support, the $0.16 level stands out as the first important resistance. A stronger break could bring the $0.45 region, which is close to the upper limit of the long-term falling channel, back to the agenda. On the other hand, if the current support is lost, the upward expectation may weaken and the selling pressure may increase again.
| Level | Meaning |
|---|---|
| $0.056 | main support |
| $0.16 | initial resistance |
| $0.45 | Long-term channel cap |
Large wallets continue to buy
Another development that fed the optimism in the market was the purchases of large investors. According to Dogegod data, prominent wallets on the Dogecoin network collected nearly 1 billion DOGE in just one day. The total value of this purchase was calculated as approximately 70 million dollars.
The fact that large wallets accumulated 1 billion DOGE in one day indicates that long-term confidence continues despite volatile market conditions.
Although large-scale purchases alone do not create sudden price jumps, accumulation over time can limit the supply in circulation. This could strengthen the recovery in Dogecoin price if supported by an increase in trading volume. The improvement in the general atmosphere of the crypto market along with the rise in Bitcoin is among the factors that support this outlook.
