- Dogecoin has bounced from recent lows and triggered a TD Sequential buy signal, indicating a potential reversal.
- The meme coin is holding above the crucial $0.16 support level, aligning with long-term technical indicators.
- Analyst Ali Martinez predicts a DOGE surge to $2, fueled by improving market conditions and easing geopolitical tensions.
Dogecoin (DOGE) has faced a brutal downturn, plummeting over 70% from its recent high of $0.48434 to a low of $0.14280. However, recent price action and key technical indicators suggest that a potential rebound could be underway.
Crypto analyst Ali Martinez has pointed out signs of a Dogecoin recovery. On March 11, he highlighted that DOGE had bounced from recent lows to reach $0.16944, showing renewed bullish momentum.
https://x.com/ali_charts/status/1899027447447703878
Martinez also noted that the memecoin had triggered a TD Sequential buy signal on the daily candlestick chart, an indicator used to identify price reversals based on past candle closes.
Additionally, DOGE has held above the critical $0.16 support level, which aligns with a long-term ascending channel and the 0.786 Fibonacci retracement region on the weekly chart. These factors suggest that DOGE could be positioned for further gains.
Dogecoin on recovery path
On March 10, Martinez predicted that DOGE could rally to a new all-time high of $2. This projection aligns with the midpoint of the ascending channel that has guided DOGE’s price movement for years.
A potential rally is further supported by easing geopolitical tensions, which have improved investor sentiment in risk assets. Ukraine’s agreement to a U.S. ceasefire deal and Canada’s decision to hold off on retaliatory tariffs against the U.S. have helped stabilize global markets.
While DOGE’s long-term trajectory remains uncertain, technical indicators and improving market conditions suggest that the memecoin could be gearing up for a strong recovery.
