DOGS Token has caught the eye of many traders and investors with its recent movements. As of July 11, 2024, the DOGS/USDT pair saw a strong bullish start during pre-market trading on Bitget, but this momentum was short-lived, leading to a significant decline.
Market Overview:
- Descending Channel 📉:
- Over the past two months, DOGS has been trapped in a descending channel, characterized by lower highs and lower lows.
- Despite finding support near $0.01100 on August 8th, DOGS faced resistance at the upper boundary, causing a pullback.
### Price Predictions:
- Bullish Scenario 🐂:
- If DOGS breaks out of the channel and closes above $0.01500, it could see a rise to $0.01800 or even $0.02300.
- Bearish Scenario 🐻:
- Failure to break resistance might lead bears to drive the price lower, potentially reaching a new all-time low.
Key Levels to Watch:
- Resistance: $0.01800 - $0.02300
- Support: $0.01100 - $0.00800
Disclaimer:
Coingabbar's analysis is for informational purposes only and not financial advice. The crypto market is volatile, and users should conduct their research and consult financial professionals before making any investment decisions.
Will DOGS token defy the odds and shoot to the moon, or is it headed for a deeper decline? Keep an eye on these key levels as the market unfolds!
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