DOGS/USDT Breaks Downtrend: Poised for a Bullish Rally?
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!
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👉 my broker:: bit.ly/HYMCMELI
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.