$DOGS Price Action:*
DOGS recently formed a swing low at 0.00070 and rallied to 0.00093, establishing a new resistance level. The current price, 0.00078, indicates a consolidation phase.
*Support and Resistance:*
- Support: 0.00070 (swing low), 0.00065 (psychological level)
- Resistance: 0.00093 (swing high), 0.00100 (psychological level)
*Market Structure:*
The recent uptrend from 0.00070 to 0.00093 suggests a potential reversal of the downtrend. However, the current consolidation below 0.00085 indicates caution.
Potential Scenarios:
1. *Bullish Breakout:* A close above 0.00085 could trigger a rally to 0.00093 and potentially 0.00100.
2. *Bearish Reversal:* A break below 0.00070 might lead to a decline to 0.00065 and further.
Trading Strategy:
- Long-term holders: Maintain positions.
- Short-term traders: Buy on dips to 0.00075-0.00070 or sell on strength to 0.00085-0.00093.
Risk Management:
Set stop-loss around 0.00065 for long positions and 0.00085 for short positions.
