As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by the recent surge in Dogwifhat ($WIF). Having closely observed the market trends and various technical indicators, I must admit to feeling a tinge of excitement when I see a buy signal from the TD Sequential. This indicator, developed by the astute Tom Demark, has a reputation for being remarkably accurate in predicting price trends.
In simple terms, the value of the meme-based crypto, Dogwifhat ($WIF), might continue to increase in the upcoming days, following a jump of more than 20% over the last week. This upward trend is further reinforced by a technical signal suggesting it’s a good time to buy, given the broader recovery of the cryptocurrency market.
As per a graph posted by well-known cryptocurrency expert Ali Martinez on his Twitter account (previously known as X), the TD Sequential, which has accurately forecasted the trend of WIF’s price, now indicates it’s time to buy.
According to the analysis, a price increase is expected towards $3.8, moving away from the current $3.5 level as indicated by the signal on the four-hour chart.
On the Dogecoin ($WIF) four-hour chart, the TD Sequential indicator signaled a potential buying opportunity, suggesting a possible price recovery towards $3.80!
— Ali (@ali_charts) November 19, 2024
The TD Sequential indicator was developed by Tom Demark, and is used to identify the exact time of trend exhaustion and potential points of reversal. It involves counting a series of price bars and comparing them to previous price bars to find exhaustion points.
The TD Sequential indicator shows a potential buying opportunity when it suggests that the current downward trend might be nearing its end and an upward trend could follow. This usually occurs after a sequence of nine consecutive bars, with each subsequent bar closing at a lower level compared to the one from four periods prior.
Among the digital currencies inspired by internet memes and built within the Solana network, WIF was one of those that experienced an incredible surge in value during the past year. Some intelligent (and fortunate) investors cashed in on huge earnings as a result of the meteoric rise of these meme-based coins.
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2024-11-20 06:39