DOGS/USDT in an Ascending Channel
Updated
hello guys.
let's analyze DOGS!
Ascending Channel Structure: The price is moving within an ascending channel, indicating a long-term bullish trend.
Reachable Resistance Area: The price is approaching a reachable resistance area between 0.0000770 and 0.0000800 USDT, which could act as a ceiling for further upside moves.
Potential Retracement: After testing the resistance zone, the chart suggests a potential retracement towards a lower support zone around 0.0000650 USDT, marked as the next reachable area.
QML Zone (Key Level): The current price action shows a possible push upward toward the resistance. However, if the price fails to break above, it may return to the QML zone around 0.0000740 for consolidation before deciding on the next move.
Risk of Reversal: If the price breaks below the QML level and fails to hold, it could target the lower boundary of the ascending channel and test the broader support around 0.0000650 USDT.
let's analyze DOGS!
Ascending Channel Structure: The price is moving within an ascending channel, indicating a long-term bullish trend.
Reachable Resistance Area: The price is approaching a reachable resistance area between 0.0000770 and 0.0000800 USDT, which could act as a ceiling for further upside moves.
Potential Retracement: After testing the resistance zone, the chart suggests a potential retracement towards a lower support zone around 0.0000650 USDT, marked as the next reachable area.
QML Zone (Key Level): The current price action shows a possible push upward toward the resistance. However, if the price fails to break above, it may return to the QML zone around 0.0000740 for consolidation before deciding on the next move.
Risk of Reversal: If the price breaks below the QML level and fails to hold, it could target the lower boundary of the ascending channel and test the broader support around 0.0000650 USDT.
Note
pointed area touched!
for getting a short position we need more confirmation, let's see what happens.
Trade closed: target reached
target touched
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