A pseudonymous cryptocurrency analyst has identified a buy signal on Dogecoin’s (CRYPTO: DOGE) 3-day chart.

What Happened: The indicator was identified through the TD Sequential, pointing to a possible reversal in Dogecoin’s market position.

The TD Sequential is a technical analysis indicator that signals potential price movement reversals. In the context of Dogecoin, it suggests that the current trend could change, potentially leading to an increase in memecoin’s market value. This buy signal implies that, after a period of decline or consolidation, there might be a forthcoming uptick in DOGE’s price. 

On-chain cryptocurrency analyst Ali Martinez said, “As long as the $0.074 support cluster continues to hold, $DOGE has a great chance of rebounding to $0.100 or higher!”

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Another analyst, World of Charts, recognized a consolidation pattern with potential for a notable rally: “Doge Consolidating In Bullish Pennant Expecting Breakout Soon Successful Breakout Can Lead 45-50% Bullish Rally.”

Why It Matters: This comes after the United Launch Alliance’s (ULA) historic launch of its Vulcan Centaur rocket.  The Dogecoin Foundation revealed that a physical representation of a Dogecoin token was among the Vulcan Centaur’s varied cargo. 

Price Action: At the time of writing, DOGE was trading at $0.081 down 1.5% in the last 24 hours, according to Benzinga Pro.

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