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$DOGS Currency Recommendations
General trend:
Current price: 0.0006892 📉.
The currency is in a clear downtrend after a sharp decline, with the price remaining below the moving averages (MA7, MA25, MA99) reflecting strong selling pressure 🔻.
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Technical indicators:
1. RSI (Relative Strength Index):
Current value: 30.91 ⚠️.
It indicates oversold, which may mean a possible price rebound in the near term.
2. MACD:
DIF: -0.0000392
DEA: -0.0000389
The continuation of the negative lines reflects weak downward momentum, with a possible slowdown in the decline 🔄.
3. Stochastic RSI:
Current value: 87.55 ⚠️.
It indicates that the indicator is rising beyond the oversold zone, which may support the possibility of a price recovery soon.
4. Volume:
Current volume is low compared to the previous high, reflecting weak buyer interest at the moment 📊 $DOGS .
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Main levels:
Support:
1. 0.0006100 (strong support) 🛡️.
2. 0.0005931 (Additional support if the decline continues) 📉.
Resistance:
1. 0.0007169 (close resistance) 🚧.
2. 0.0008406 (Major resistance to the general trend) 🔺.
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Possible scenarios:
1. Ascent scenario:
If the price bounces off the current support and the trading volume continues to rise, it may head towards the first resistance at 0.0007169 🚀.
Volume and positive signals in RSI and Stochastic should be monitored to confirm a trend change.
2. Landing scenario:
If the support at 0.0006100 is broken, the price may decline towards the next support at 0.0005931 ⏳.
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Recommendations:
1. For buyers:
Wait for confirmation of a bounce from support at 0.0006100 or signs of improving momentum such as a rising RSI 📈 $DOGS .
2. For Sellers:
Profit can be taken if the price approaches the first resistance 0.0007169.
Place a stop loss order above 0.0008406 to avoid trend reversal 🚨.
3. Risk Management:
Use stop loss orders especially if the price drops below 0.0006100 🔒.
Important note: The market is currently in a correction phase, so be careful. The correction may continue for longer until the indicators become positive.