Dogecoin Ready to Bounce? Top Analyst Says Signal With 'Solid' Track Record Just Flashed 'Buy'

Leading cryptocurrency analyst Ali Martinez suggested on Thursday the potential exhaustion of Dogecoin’s recent downtrend, followed by a rebound.DOGE to Bounce Back?Martinez highlighted a TD Sequential "Buy" signal on DOGE’s 4-hour chart, indicating the memecoin’s correction “may be coming to an end.”The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns.Martinez said the signal has shown a “strong” recent track record as the last three buy signals were followed by rebounds of 6.96%, 2.71% and 11.25%.“If history rhymes, Dogecoin could be setting up for another move higher,” the analyst predicted.DOGECOIN READY TO BOUNCE?The TD Sequential has flashed a buy signal on 4-hour chart, suggesting the recent correction may be coming to an end.The signal has a solid recent track record. The last three buy signals were followed by rebounds of 6.96%, 2.71%, and 11.25%.… What Do Other Technical Indicators SayThe Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a “Sell” signal for DOGE,  to TradingView.On the other hand, the Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a "Buy" signal. The Relative Strength Index hovered in the "Neutral" territory. Read Also: Dogecoin ETF ClosedDogecoin began the week on a stable footing but later tumbled , further pressured by geopolitical tensions and rising odds of inflation and interest rate hikes.Troubles within its own ecosystem have added to the pressure. Bitwise announced that it will liquidate and close its Bitwise Dogecoin ETF ), less than one year after launch.Price Action: At the time of writing, DOGE was trading at $0.08390, down 2.01% in the last 24 hours, according to data from Benzinga Pro. The memecoin is down 3.50% in a week. Read Also: Ripple Expands Beyond Crypto Payments With AI System 'GSmart' Photo Courtesy: Akif CUBUK on Shutterstock.com