- The TD Sequential buy signal indicates a potential reversal for the Dogecoin price trend.
- Whale wallet withdraws 32.9M DOGE, signaling stronger investor confidence.
- Dogecoin trades at $0.2191, gaining 3.27% in the last 24 hours.
Dogecoin has shown early signs of a potential reversal after weeks of downward movement. Analysts noted a new buy signal on its chart, hinting at recovery. On-chain activity has also drawn attention, with large withdrawals from exchanges.
TD Sequential Signal Suggests Possible Rebound
Crypto analyst Ali Martinez highlighted a new setup for Dogecoin using the TD Sequential indicator on TradingView. The tool signaled a “9” buy setup on the 4-hour chart following a prolonged decline.
Over recent sessions, DOGE fell from highs near $0.244 to about $0.209. The chart showed consistent bearish candles until the signal emerged. Martinez stated that this indicator has historically aligned with major turning points for Dogecoin.
Market watchers suggested that confirmation of a rebound could open a path toward recovery. Failure to hold at the current level may instead confirm continued weakness.
Large Withdrawal Reflects Investor Confidence
On-chain tracking platform Nansen reported a significant transfer of Dogecoin in the past 16 hours. Data showed a newly created wallet withdrew 32.9 million DOGE, worth $6.96 million, from Binance.
The move was flagged by Onchain Lens and discussed among traders. Analysts explained that large withdrawals often point to accumulation or transfer into cold storage. Nansen added that shifting assets into cold wallets usually indicates an intent to hold long-term rather than sell immediately.
The withdrawal highlighted investor confidence in Dogecoin’s outlook despite recent price declines. At the time of reporting, Dogecoin traded at $0.2191, marking a 3.27% increase in the past 24 hours.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
