DOGS: Testing Resistance within Downward Channel

hello guys.

Downward Channel:
The chart shows DOGS/USDT moving within a descending channel, indicating an ongoing bearish trend.

Current Rebound: The price is currently bouncing back toward the upper boundary of the channel but is facing a resistance zone around $0.00065–$0.00070, which aligns with the channel’s resistance.

Possible Rejection: A rejection from this resistance area could signal a continuation of the downward trend, with the price potentially heading back to lower levels within the channel.

Breakout Potential: If DOGS/USDT can break above the channel and maintain support above this resistance zone, it could suggest a potential trend reversal or short-term bullish momentum.

Outlook: Watch for price action around the resistance zone. A clear rejection could lead to further downside, while a breakout may open up opportunities for an upward move.
Note
analysis #dogs #dogsusdt

snapshot
Beyond Technical AnalysisChart PatternsdogsdogscoindogsusdDOGSUSDTTrend Analysis

👉 get a Tradingview account (broker): bit.ly/HYCM-M
________
👉 10% off with this exchange: lbank.one/join/uu83jRY
________

telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
Also on:

Related publications

Disclaimer