The Sundog price has slumped 9% in the last 24 hours to trade at $0.2854 as of 3:30 a.m. EST on a 5% drop in trading volume to $130 million.
Sundog Price Signals A Breakout Above The Consolidation Zone
The SUNDOG/USD trading pair in the 4-hour timeframe is currently trading around $0.2876. The price has been consolidating between approximately $0.20 and $0.32, indicating a period of indecision where neither bulls nor bears have taken full control.
SUNDOGUSD Analysis Source: Dextools.io
The 50-period Simple Moving Average (SMA) provides dynamic support around the $0.2482 level, with the Sundog price hovering slightly above it.
The technical indicators are giving mixed signals. The MACD (Moving Average Convergence Divergence) is slightly bearish, with the MACD line below the signal line, indicating some bearish momentum. However, the histogram shows minimal negative divergence, indicating the weak bearish pressure.
On the other hand, the Relative Strength Index (RSI) is trading at 55.42, showing a slightly bullish sentiment, though it remains in the neutral zone, leaving room for movement in either direction.
Sundog Price Prediction
Looking ahead, the Sundog price is at a critical point. If it breaks above the $0.32 resistance level, increased buying pressure could trigger a rally toward the next resistance around $0.45.
Conversely, if the price drops below the 50 SMA at $0.2482, it could lead to a retest of the lower boundary of the consolidation zone near $0.20 or even further declines if selling pressure intensifies.
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