🟢Trading signal for DOGS/USDT

📊 Signal Type: Bullish Reversal

📅 Timeframe: 1-hour chart (short-term)

📉 Price: $0.000773 (current price)

📈 Targets:

1. First Target: $0.000818

2. Second Target: $0.000849

3. Third Target: $0.000946

📝 Analysis:

• The price is breaking out of a downward channel, signaling a potential bullish reversal from the support area.

• The RSI is showing a bullish divergence (41.51), indicating oversold conditions, which strengthens the potential for an upward move.

• Look for a break and close above the current resistance around $0.000773 for confirmation of the uptrend.

🎯 Key Levels:

• Support: $0.000740 (Support area at the bottom of the channel)

• Resistance Levels:

• $0.000818 (first target)

• $0.000849 (second target)

• $0.000946 (third target)

⚠️ Risk Management:

• Consider placing stop-loss below the support area around $0.000740 to minimize downside risk.

🔄 Potential Scenario:

• If the price confirms above $0.000818, we can see the next leg up toward $0.000849 and potentially $0.000946, following the bullish trend reversal pattern.

This setup shows strong potential for a short-term reversal trade with increasing buying pressure. Watch for confirmation of the breakout and manage risk accordingly.

Disclaimer: DYOR and NFA.

$DOGS

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