Cryptocurrency analyst Ali warned that the meme cryptocurrency Dogecoin (CRYPTO: DOGE) is looking for a potential correction. This comes after DOGE reached $0.10 levels last week.
What Happened: According to the analyst, the TD Sequential indicator has triggered a sell signal on Dogecoin’s weekly chart.
Should a downward correction occur, Ali predicts that Dogecoin could decline to the $0.085 mark or potentially even to $0.078. If Dogecoin manages to mount a charge beyond the critical $0.11 threshold, it could effectively invalidate the current bearish prediction.
"TD Sequential flagged a sell signal on Dogecoin weekly chart. This comes as DOGE faces a key resistance level that has repeatedly thwarted its climbs in the past. A correction could see prices dip to $0.085 or even $0.078. However, if DOGE can surge past $0.11, the bearish scenario gets negated," the analyst tweeted.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Another cryptocurrency analyst, known as Captain Faibik, delivered an optimistic stance on Dogecoin’s prospects. On platform X Monday, Faibik said, “DOGE train has already left the station… An epic pump Incoming..”
Supporting this bullish forecast, Captain Faibik circled a price destination for Dogecoin, mapping a journey from $0.088 to $0.70.
Price Action: At the time of writing, DOGE was trading at $0.096, down 0.51% in the last 24 hours, according to Benzinga Pro.
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