Dogecoin shows signs of a rebound.
Crypto investors have had it rough over the past few months, and Dogecoin (DOGE) holders have been no exception.
The memecoin has fallen over 70% from a local high of $0.48434 to as low as $0.14280. But it may now be showing signs of a rebound, at least according to one leading analyst.
Dogecoin on Recovery Path
Dogecoin is showing signs of a rebound, according to leading crypto analyst Ali Martinez.
Martinez expressed this view in an X post on Tuesday, March 11, as the asset sharply bounced from recent lows to trade as high as $0.16944. He added that the memecoin had also flashed a TD Sequential buy signal on the daily candlestick chart.
The TD Sequential is an indicator that allows traders to identify price reversals using information from previous candle closes.
The recent price bounce and TD Sequential buy signal come as the memecoin has held a key support level recently highlighted by Martinez: $0.16.
The support level aligns with an intersection between the floor of an ascending channel that has persisted for years and the 0.786 Fibonacci retracement region on the weekly candle chart.
DOGE to $2?
On Sunday, March 10, Martinez had asserted that DOGE could kick off a rally to a new all-time high at $2, aligning with the midpoint of the ascending channel.
All eyes on #Dogecoin $DOGE! If it holds this level at $0.16 and bounces, a move to $2 could be next! pic.twitter.com/pq2Xc4dsmH
— Ali (@ali_charts) March 10, 2025
The chances of this run are likely increased by the recent respite from geopolitical tensions that have subdued risk assets. For one, Ukraine has agreed to a U.S. ceasefire deal in its conflict with Russia. At the same time, Canada has held off on retaliatory tariffs on the U.S. that promised to escalate trade war concerns.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
