Dogecoin (DOGE) might be on the point of a serious bullish reversal based mostly on a technical indicator just lately flashing a bullish sign for the meme coin. Whereas highlighting the bullish sign, crypto analyst Ali Martinez additionally hinted at how excessive Dogecoin might rise when this reversal happens. 

A Rebound For Dogecoin On The Horizon

Martinez talked about in an X (previously Twitter) put up that the TD Sequential is presenting a purchase sign on Dogecoin’s 3-day chart, thereby “predicting a rebound of one to four candlesticks for DOGE.” Based mostly on the chart he shared, Dogecoin might get pleasure from a reversal to round $0.17, the realm during which it started its downtrend in early June. 

A large rebound for Dogecoin will undoubtedly be a welcome growth for its holders, who’ve needed to take care of the meme coin’s bearish outlook for a while now. Dogecoin did not make any spectacular rally, whereas different foremost meme cash rallied following Roaring Kitty’s return. 

In the meantime, the meme coin took one of many worst hits following the latest avalanche that plagued the crypto market. Bitcoin led altcoins on a downward pattern in direction of the tip of June. Nonetheless, with the flagship crypto reversing and again above $63,000, Dogecoin might additionally get pleasure from a powerful restoration from its present price degree. 

Furthermore, knowledge from the market intelligence platform IntoTheBlock exhibits a sturdy optimistic correlation between Dogecoin’s price and Bitcoin’s. As such, Dogecoin might considerably transfer to the upside because the flagship crypto rebounds. 

Crypto analyst Kevin (previously OG Yomi) additionally just lately offered a bullish narrative for Dogecoin. He acknowledged that his indicator had flashed a weekly purchase sign for the primary time because the meme coin was at $0.05. Moreover, Kevin famous that Dogecoin is about two inexperienced weekly candles away from confirming its first weekly golden cross in 4 years. He claimed that that is one thing to look at, suggesting that Dogecoin’s rally might be parabolic when this occurs. 

DOGE Might Attain $0.6 On Subsequent Leg Up

Crypto analyst Javon Marks just lately predicted that Dogecoin might attain $0.6 on its subsequent leg up. He acknowledged that the transfer in direction of the breakout goal at $0.6533 “may be a matter of time, and prices could be preparing here for a break above.” The crypto analyst appeared assured as he once more reaffirmed {that a} price rally of over 400% to achieve this goal would possibly already be loading.  

Marks had beforehand predicted that Dogecoin would rise to as excessive as $17 on this bull run. He claimed that such a meteoric transfer was attainable based mostly on the meme coin’s historic pattern. He famous that the foremost meme coin has at all times made a bigger run in each subsequent bull run, that means it might get pleasure from a rally that can overshadow its price transfer of twenty-two,800% within the 2021 bull run. 

Featured picture created with Dall.E, chart from Tradingview.com