📊 DOGS Technical Analysis – Potential Entry & Exit Points 🐾
Hey guys! $DOGS is now testing support near the 0.0010 level, with indicators showing mixed sentiment. Let’s break it down:
🔍 Chart & Indicator Overview:
EMA (7, 25, 99): The EMA(7) has crossed below both the 25 and 99 EMAs, signaling a bearish trend. DOGS price remains below the EMA(99), indicating weak buying momentum. The price is hovering near the key 0.0010 level, a critical support area.
MACD: The MACD line is below the signal line, and the histogram is declining, reflecting continued bearish pressure. If we don’t see a reversal soon, the downward trend could persist.
RSI (6, 12, 24): The RSI(6) is oversold, sitting around 21, indicating DOGS could be nearing exhaustion of selling pressure. The RSI(12) and RSI(24) are also in the low 30s, hinting at a potential short-term bounce.
🔑 Key Levels to Watch:
Support: Immediate support at 0.0010. If this holds, expect a bounce towards 0.0011 to 0.00115. A break below this could see DOGS test 0.00092.
Resistance: The key resistance is still 0.00115. A breakout here could push DOGS to 0.0012.
📈 Entry and Exit Strategy:
Entry: Wait for a bullish signal, such as a bounce at 0.0010 support or a MACD crossover for a safer entry.
Exit: Profit-taking around 0.00115 to 0.0012 is advisable for short-term traders. If 0.0010 breaks, tighten stop losses to protect against further downside.
🚀 Conclusion:
DOGS is facing bearish pressure but is nearing support levels that could trigger a bounce. Watch for a MACD crossover or RSI recovery for entry signals. Stay disciplined and stick to your trading plan! 📉📈