DOGSUSDT has experienced a sharp decline, dropping almost 50% from its all-time high (ATH), potentially presenting a discounted buying opportunity. However, recent price action shows it has broken and closed below the key psychological level of 0.001, signaling weakening bullish momentum. The price is now testing the 0.0009 support level, which is crucial as the overall market sentiment remains bearish during this correction phase. There's a likelihood that the price may dip below this level, continuing the downtrend.
The consolidation phase currently seen suggests market indecision, but it could precede further downside before any potential upward movement. A possible scenario is a false breakout below 0.0009, which could trap sellers expecting further declines. If the price quickly rebounds after dipping, it might create a buying opportunity. A reversal could target the resistance zone at 0.0011
The consolidation phase currently seen suggests market indecision, but it could precede further downside before any potential upward movement. A possible scenario is a false breakout below 0.0009, which could trap sellers expecting further declines. If the price quickly rebounds after dipping, it might create a buying opportunity. A reversal could target the resistance zone at 0.0011
Trade closed: stop reached
Price moved agaisnt the expectations of the analysis
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.