#DOGS USDT
#### 1. Price forecast
- Short-term forecast: In the short term, there is a possibility of continuation of the downward movement. On-chain data shows growth of the exchange reserve and net deposits, which may indicate possible pressure on the price. An upward movement is possible, but there is a risk of a rollback when approaching resistance levels.
- Medium-term outlook: In the medium term, bearish sentiment may intensify if the price fails to break and consolidate above the resistance level at 0.001200. On-chain data confirms the presence of significant selling pressure, which may lead to further decline.
#### 2. Support and resistance levels
- Support levels:
- 0.001050 is a key support level, which is currently holding the price from further decline, but may be broken if the bearish scenario continues.
- 0.001000 — an additional support level, which may be relevant in case of a breakout of the first level.
- Resistance levels:
- 0.001200 is a resistance level, upon breaking through which an upward movement is possible, but it may be limited.
- 0.001300 is the next significant resistance level, which, given the current selling pressure, looks unlikely to be reached.
#### 3. Entry, exit, stop loss points for 🟢long positions
- Entry point: Entering a long position is recommended only after a confident breakout and consolidation above the 0.001200 level, which should be accompanied by an increase in trading volume and a weakening of on-chain negative factors. However, given the current data, the probability of such a scenario is lower.
- Exit point: Exit targets are at 0.001300 and 0.001400, but reaching these targets is unlikely given the current on-chain data.
- Stop Loss: It is recommended to set it at 0.001050, which is the current support level. If the price breaks this level downwards, it will be a signal to exit the long position.
#### 4. Entry, exit, stop loss points for 🛑short positions
- Entry point: Entering a short position is recommended when the candle breaks through and closes below 0.001050. This will signal that the support has failed and the price will head to lower levels.
- Exit point: Target levels for exiting a short position are in the region of 0.001000 and below.
- Stop Loss: Set at 0.001200, which is slightly above the resistance zone. If the price rises above this level, it is better to exit the short position, as this may signal the beginning of an upward movement.
#### 5. 🟢Long and 🛑short scenarios with probability assessment
- 🟢Long script:
- Probability: 45%
- Reasons: While a breakout of the 0.001200 resistance level is possible, on-chain data indicates weak interest in the asset from large holders and a decrease in capital inflows, which limits the upside potential.
- 🛑Short scenario:
- Probability: 55%
- Reasons: A breakout of the 0.001050 support level with consolidation below may indicate a further price decline. On-chain data confirms the bearish scenario, which makes short positions more likely and profitable.
#### ⚠️General conclusion
At the moment, based on on-chain and technical analysis, bearish sentiments prevail. It is recommended to consider short positions upon a breakout of the support level of 0.001050 with a stop loss set at 0.001200. Long positions are possible, but only with a confident breakout of the level of 0.001200 and signs of a recovery of interest in the asset at the on-chain level.
