DOGS/USDT Price Analysis: Potential Reversal at Key Resistance
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Descending Channel: The price has been consistently trading within a downward-sloping channel, reflecting a bearish trend that has been dominating the market for the past few weeks.
Attempted Breakout: The price is currently testing a breakout from the descending channel, hinting at a potential shift in momentum.
Ascending Channel: An ascending channel is forming.
Key Resistance Level: There’s a strong horizontal resistance zone near $0.00094. This level could act as a barrier to further upward movement.
Support Zone: The $0.00077-$0.00078 region has been tested multiple times, confirming it as a key support area.
Summary:
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Descending Channel: The price has been consistently trading within a downward-sloping channel, reflecting a bearish trend that has been dominating the market for the past few weeks.
Attempted Breakout: The price is currently testing a breakout from the descending channel, hinting at a potential shift in momentum.
Ascending Channel: An ascending channel is forming.
Key Resistance Level: There’s a strong horizontal resistance zone near $0.00094. This level could act as a barrier to further upward movement.
Support Zone: The $0.00077-$0.00078 region has been tested multiple times, confirming it as a key support area.
Summary:
- Price has been following a descending channel, indicating a bearish trend.
- A short-term ascending channel has formed, suggesting a potential recovery.
- Key resistance at $0.00094.
- Support at $0.00077-$0.00078 level.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
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