DOGS Coin Long Trade Opportunity đ„đ„ (Highly Risky)
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Current Price:
$DOGS: 0.0008799 (-4.83%)
đ DOGS/USDT Technical Analysis: Possible Long Trade Opportunity
We are observing a potential shift in market structure for DOGS/USDT that could present a long trade opportunity in the coming days.
Key Levels:
Resistance Zone: Around 0.0013890. This level has previously rejected price action, and a break above could signal significant upward movement.
Support Zone: The price recently bounced at 0.0008799, indicating a potential low. Holding this level may confirm a higher low (HL) pattern, setting the stage for an upward move.
Market Structure:
Lower Highs (LH) and Lower Lows (LL): The market has been in a downtrend, but recent price action shows signs of a bullish shift after forming a higher low.
Trade Setup:
Entry Point: Ideal entry would be if the price breaks above the resistance zone near 0.0013890 and confirms a bullish trend.
Stop-Loss: Place below the recent low (around 0.0008799) to limit risk.
Target: The next significant target is at the 0.0013890 resistance level, with a further target of around 0.0014930 if this level is broken.
Risk/Reward:
This setup offers a potential risk-to-reward ratio of about 2:1, making it favorable if conditions align.
Conclusion:
A potential market structure reversal is forming in DOGS/USDT, with a higher low indicating possible bullish momentum. Monitor the resistance zone closelyâbreaking above it could signal the start of a new trend. Always practice proper risk management and never invest more than youâre willing to lose.
Happy Trading!
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