DOGS: Rolled over, ready for a new trick or?...
If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Dogs followed the path to the down side. Here is the updated 1-hour chart for DOGS/USDT which provides additional clarity on the downward trend and potential reversal points:
Descending Trendline and Resistance Points:
The descending trendline marked in yellow has been tested multiple times (indicated by red circles), reinforcing its significance as a resistance level.
The price is struggling to break above this trendline, which has kept the downward pressure intact.
Support and Resistance Levels:
Resistance at $0.0012091: This level remains a key barrier for upward movement. It has played as support in the past. The break below can lead to this level becoming resistance now. It is the key level bulls need to regain. The zone at $0.0011282 is currently playing as resistance and is a critical levels to watch; a rejection could signal a deeper decline. This is the first level the bulls have to regain.
Bullish Scenario: If the price manages to break above the descending trendline and sustain above $0.0011565, and flip the current resistance into support, it could lead to a bullish reversal
Bearish Scenario: A failure to break above the trendline and resistance, could lead to further declines, validating the bearish momentum.
Conclusion: The price is in a critical phase, with the descending trendline acting as a strong resistance. A break above this line could signal a bullish reversal, while continued rejection and an inability to regain the resistance levels would likely result in further bearish movement. The overall sentiment remains cautiously bearish unless a significant breakout above the trendline occurs.
Trade Safe!
Trade Clarity!
Dogs followed the path to the down side. Here is the updated 1-hour chart for DOGS/USDT which provides additional clarity on the downward trend and potential reversal points:
Descending Trendline and Resistance Points:
The descending trendline marked in yellow has been tested multiple times (indicated by red circles), reinforcing its significance as a resistance level.
The price is struggling to break above this trendline, which has kept the downward pressure intact.
Support and Resistance Levels:
Resistance at $0.0012091: This level remains a key barrier for upward movement. It has played as support in the past. The break below can lead to this level becoming resistance now. It is the key level bulls need to regain. The zone at $0.0011282 is currently playing as resistance and is a critical levels to watch; a rejection could signal a deeper decline. This is the first level the bulls have to regain.
Bullish Scenario: If the price manages to break above the descending trendline and sustain above $0.0011565, and flip the current resistance into support, it could lead to a bullish reversal
Bearish Scenario: A failure to break above the trendline and resistance, could lead to further declines, validating the bearish momentum.
Conclusion: The price is in a critical phase, with the descending trendline acting as a strong resistance. A break above this line could signal a bullish reversal, while continued rejection and an inability to regain the resistance levels would likely result in further bearish movement. The overall sentiment remains cautiously bearish unless a significant breakout above the trendline occurs.
Trade Safe!
Trade Clarity!
More on the TradeDevils Discord discord.gg/p9bjnpwnMc
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.