Dogecoin's Rally Fizzles as Meme Coin Tests Key Support Zone
Dogecoin's (CRYPTO: DOGE) recent price surge has been short-lived, as it has fully retraced its 5% spike from Friday. According to crypto analyst Ali Martinez, a TD Sequential buy signal was triggered on the four-hour chart Thursday, indicating a potential rebound.
The signal initially worked, and Dogecoin reached a high of $0.0880 on Friday, marking a maximum gain of about 4.9% from the chart's reference price. However, DOGE closed Friday near $0.0843 and has since traded around $0.083 - roughly 1% below the signal level.
Martinez noted that Dogecoin's previous three TD Sequential buy signals produced rebounds between 2.7% and 11.25%. The latest move generated a tradable intraday bounce but buyers failed to hold the gains, with DOGE now testing its 50-week moving average at around $0.082.