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DOGS / TetherUS

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DOGSUSDT trade ideas

Dogs: Sit-up or roll over?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! The DOGS/USDT 1-hour chart indicates a potential Elliott Wave structure, with a completed 5-wave uptrend followed by an ABC correction, suggesting the market could be setting up for a new upward move if key levels hold. However, the move from the proposed end of the C wave is not forming an ideal motive wave. Key Levels: Support: The significant support zone around 0.0012091 could serve as a foundation for a potential bounce, with 0.0012879 currently acting as support. Resistance: Resistance is noted at 0.0013205 and 0.0013788. As the price approaches these levels, it may encounter selling pressure. For a sustained bullish trend, these levels need to be broken and flipped into support. Technical Indicators: A descending trendline from the peak of wave 5 underscores the bearish trend. The price is testing a break above this trendline, which could signal a trend reversal if it holds. A Fibonacci retracement at the 0.618 level would add validity to the bullish scenario with a break of it excluding the potential for algorithmic participation. Scenarios: Bullish: If the price can break above the descending trendline and maintain above the 0.0012091 support, it could target higher resistance levels. Successfully breaking and converting these into support would suggest a continuation of the bullish trend. Bearish: Failure to hold above the 0.0012091 support level may lead to further declines, reinforcing the bearish trend. Conclusion: DOGS/USDT is at a pivotal juncture. Holding above the descending trendline supports a bullish outlook, while failure to maintain support levels could signal more downside. Monitoring price action around these key levels will be crucial for determining the next move. Trade Safe! Trade Clarity!
Long
by CryptoKnee
DOGSUSDT.1HReviewing the technical chart for DOGS/USDT on the 1-hour timeframe, we observe a couple of significant patterns and indicators that guide our analysis: Trend and Pattern Analysis: The price has been in a downtrend as marked by the descending trend line connecting the series of lower highs. This pattern indicates selling pressure. The most recent price action has failed to break above this trend line, suggesting that the downtrend is still intact. Support and Resistance Levels: The chart identifies two key resistance levels (R1 at approximately 0.0013275 and R2 at approximately 0.0018000) and a support level (S1 at approximately 0.0011386). Currently, the price is between R1 and S1, showing some indecision or consolidation in the market. Volume and Price Spikes: Notably, there is a significant volume spike on the left side of the chart. Such spikes can indicate major trades that could either be accumulation or distribution. The follow-up action needs to be monitored closely to understand whether this was a buying interest or selling climax. Moving Average Convergence Divergence (MACD): The MACD line is currently below the signal line and both are trending downward, which typically signifies bearish momentum. The histogram bars are also showing increasing bearish momentum as they grow larger on the downside. Relative Strength Index (RSI): The RSI is currently just below 40, which is on the lower side but not yet in the oversold region (below 30). This suggests there might still be room for downward movement before the asset becomes technically oversold. Conclusion: Given the current technical setup with the price below the descending trend line, and bearish indicators from both MACD and RSI, it appears prudent to remain cautious. If considering entering a trade, one might wait for either a clearer bullish reversal pattern or a break above the trend line to confirm a shift in momentum. Conversely, if the price breaks below the support at S1, it could potentially lead to further declines. Always consider risk management strategies and consider the overall market context when making trading decisions.
Short
by MarsSignals
DOGS SHORT term Road Map !!!The price is symmetrical in the triangle, which means that we should wait for the triangle to break. ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
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