DOGS/USDT Breaks Downtrend: Poised for a Bullish Rally?
Updated
hello guys!
Broken Descending Channel:
DOGS/USDT has decisively broken above its long-term descending channel, indicating a shift from a bearish to a neutral or bullish phase. This breakout is often a precursor to a trend reversal.
Consolidation and Symmetrical Triangle:
After breaking the channel, the price entered a consolidation phase, forming a symmetrical triangle. This indicates a pause in momentum, with the potential for an imminent breakout.
Resistance and Next Target:
Immediate Resistance: $0.0008025, corresponding to the horizontal black trendline. A break above this level would confirm bullish continuation.
Next Target: $0.00092, aligned with a significant supply zone identified in the chart.
Support Levels:
$0.0005900: Base of the triangle, acting as critical support.
$0.0005000: Strong psychological support from previous lows.
Volume and Momentum:
Volume is essential to watch during the breakout. Increased volume could confirm a bullish breakout toward the next target.
Broken Descending Channel:
DOGS/USDT has decisively broken above its long-term descending channel, indicating a shift from a bearish to a neutral or bullish phase. This breakout is often a precursor to a trend reversal.
Consolidation and Symmetrical Triangle:
After breaking the channel, the price entered a consolidation phase, forming a symmetrical triangle. This indicates a pause in momentum, with the potential for an imminent breakout.
Resistance and Next Target:
Immediate Resistance: $0.0008025, corresponding to the horizontal black trendline. A break above this level would confirm bullish continuation.
Next Target: $0.00092, aligned with a significant supply zone identified in the chart.
Support Levels:
$0.0005900: Base of the triangle, acting as critical support.
$0.0005000: Strong psychological support from previous lows.
Volume and Momentum:
Volume is essential to watch during the breakout. Increased volume could confirm a bullish breakout toward the next target.
Trade active
the breaking up happenedTrade closed: target reached
#dogs #dogscoin #dogusdt
the final target touched!
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telegram channel: t.me/melikatrader94
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