DOGS/USDT: Potential Reversal with Breakout from Downtrend
hello guys.
Downtrend Channel: DOGS has been trading within a descending channel since early September, reflecting strong bearish momentum.
Breakout Attempt: The price recently attempted to break above the descending channel's resistance, suggesting a possible change in trend.
Support Zone: A consolidation zone was established around the 0.0005500 level, indicating strong buying interest and forming a potential base for further upward movement.
Target Level: If the breakout is confirmed, the next key target lies around the 0.0009740 mark, a significant resistance level that may attract profit-taking or selling pressure.
in a short story:
if the last candle that breaks the channel remains strong and full body we can expect the price will touch the $0.0009740 area. otherwise, it remains bearish like I said before:
Downtrend Channel: DOGS has been trading within a descending channel since early September, reflecting strong bearish momentum.
Breakout Attempt: The price recently attempted to break above the descending channel's resistance, suggesting a possible change in trend.
Support Zone: A consolidation zone was established around the 0.0005500 level, indicating strong buying interest and forming a potential base for further upward movement.
Target Level: If the breakout is confirmed, the next key target lies around the 0.0009740 mark, a significant resistance level that may attract profit-taking or selling pressure.
in a short story:
if the last candle that breaks the channel remains strong and full body we can expect the price will touch the $0.0009740 area. otherwise, it remains bearish like I said before:
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