For those of you who hold $DOGS, let's confirm that we're making the right choices. According to CoinMarketCap, Dogs is ranked 133rd in market capitalization. Here's the 2024 price prediction for $DOGS, broken down by day.
Dogs are currently following a “descending channel” pattern. While this may appear bearish in the short term, these patterns usually lead to long term uptrends. When the price breaks above the upper trendline of the channel, it usually signals higher prices.
A descending channel is formed by connecting the asset's lower highs and lower lows with parallel trendlines. If the price reaches the upper trendline (resistance level) during a decline, traders can sell. On the other hand, the opposite pattern is called an "ascending channel".
Both ascending and descending channels are key patterns that technical analysts watch.
At the time of analysis, Dogs price is $0.0008429. If the current trend remains the same, Dogs could hit resistance at $0.0009910, $0.0010246, and $0.0012035. However, if the market reverses, the price could drop to the support level of $0.0007922.
