$DOGS is currently trading within a falling wedge pattern, indicating a potential bearish trend. The price has consistently declined, breaching multiple support levels. The recent Bitcoin (BTC) price drop further fuelled this downward movement, pushing DOGS below its current support level of $0.0008105.
Two potential scenarios have been identified:
Rebound and Breakout: If the price rebounds from the lower support level of $0.0006977 and breaks above the falling wedge, it could signal a bullish reversal.
Further Decline: If the price continues to fall below the $0.0006977 support level, it may further decline towards the lower support level of $0.0005587. A potential rebound could occur at this level.
For DOGS to exhibit bullish momentum, it must break above the current resistance of $0.0008105.
Support Levels:
$0.0006977
$0.0005587
Resistance Levels:
$0.0008105
$0.0009235
Happy Trading!!
