Dogecoin is observing the price increase signals on these indicators

An analyst has pointed out that Dogecoin has recently observed patterns in two indicators that could prove to be promising for price increases. Dogecoin has seen positive signals on TD Sequential & Whale Supply In her recent post on X, analyst Ali Martinez discussed the Tom Demark (TD) Sequential signal that Dogecoin just witnessed on its 4-hour price chart. "TD Sequential" refers to a technical analysis indicator used to identify potential price reversal points for any asset. Indicators consist of two phases, known as setup and countdown. In the first phase, setup, candles with the same price are counted up to nine. These candles do not have to be consecutive. When nine candles appear, the setup is considered completed and TD Sequential provides a reversal signal for the asset. Of course, if the candles related to the completion of the setup are green, the signal will suggest a peak, and if they are red, the signal will be a bottom. Once the setup is completed, the countdown phase begins. This phase of TD Sequential operates exactly like the setup, except that it consists of thirteen candles instead of nine. When these candles are also printed, the indicator will give a different buy or sell signal for the price. Recently, Dogecoin has completed the first phase of TD Sequential. This chart shared by the analyst shows this signal in the 4-hour DOGE price:

As can be seen from the chart above, the price of Dogecoin in the 4-hour timeframe has completed the TD Sequential pattern with nine green candles, implying that this cryptocurrency may be preparing for a trend reversal. This is not the only positive signal that DOGE has recently observed, as Martinez pointed out in another post on X that whale investors have been busy buying in the past few days. The indicator on the chain quoted by analyst is the Supply Distribution from Santiment analysis company, which tells us about the supply amount that any specific wallet group is holding at the current time. Below is a chart showing the specific data of the whale group, which refers to large investors holding from 10 million to 100 million tokens:

From the chart, it can be seen that the supply of Dogecoin held by whales has recently increased. Specifically, whales have added a net amount of 90 million DOGE (valued at approximately $28.7 million) to their holdings in the past two days. This accumulation implies that these key investors believe that the cryptocurrency is worth buying at the current price.

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