The $DOGS /USDT chart shows a bearish trend, with the price declining from a recent high of $0.0010200 to a low of $0.0009350. This represents a 4.49% decrease, indicating strong selling pressure in the market. The price is currently at $0.0009418, showing a minor recovery after reaching the recent low. The overall sentiment remains negative, with sellers dominating the price action.
The key resistance level to watch is $0.0010200, where the price was rejected recently. A break above this level could signal a potential reversal of the bearish trend and offer opportunities for buyers to step in. On the downside, immediate support is at $0.0009183. If the price falls below this level, it could indicate further downside, potentially driving the price to new lows.
For traders looking to enter long positions, it would be prudent to wait for a confirmed breakout above $0.0010200 or observe if the price stabilizes around the support level of $0.0009183. Placing stop-losses below the support level is essential to protect against any further declines. On the other hand, traders seeking short positions might consider entering if the price fails to break above resistance, aiming for a move toward the support levels.
Overall, the market is showing signs of weakness, but key support and resistance levels could provide guidance for the next price direction. Caution is advised, especially given the current volatility.
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