The original meme coin Dogecoin (DOGE) has been on a downward trend for the past 30 days, with the price of DOGE down 17.13% today to $0.097.
However, things may soon change for the popular cryptocurrency as technical analysis (TA) by renowned digital asset expert Ali Martinez suggests that Dogecoin is set to rise.
Indeed, Martinez explained in a September 2 X post that DOGE is showing a bullish divergence against the relative strength index (RSI) — a momentum indicator that tracks the size of recent price moves — and that TD Sequential is giving a buy signal.
Similarly, while the oscillators remain fixed at “neutral” levels for all three timeframes, the moving averages (MA) consistently recommend selling DOGE.
Dogecoin Price Chart
Whatever the future holds for Dogecoin, the fact remains that its recent performance has been weak. For example, out of the last 30 trading days, the meme coin has only been in the green for 12 days, meaning that the overall sentiment in the crypto market is, unsurprisingly, bearish.
However, despite DOGE being down over 15% over the past month, it has managed to remain in the green on a yearly chart, albeit only by 5.85%.
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