DOGS Price in Correction Phase

Current Status: The DOGS price briefly exceeded the 20-day EMA but is now in a correction phase after a recent surge. It ranks 12th in the cryptocurrency market by trading volume and has seen a 30% decline over the past week.

Technical Overview: The price recently dipped to $0.00100, forming small bullish candlesticks. Despite a 97.40% increase since its launch, DOGS has fallen 39.32% from its all-time high. The market capitalization stands at $547.11 million, with a 24-hour trading volume of $523.86 million.

Potential for Surge: DOGS has reached a crucial breakout level and could potentially surge by 40% in the short term if it maintains momentum. A successful breakout might lead the price to approach the previous swing high or even set a new all-time high.

4-H Timeframe Analysis: On a 4-hour chart, DOGS has broken out of a falling wedge pattern and exceeded the 20-day EMA, suggesting potential bullish momentum. If the price remains above the 20-day EMA and climbs to the 100-day EMA, it could attract more buyers and create a buying opportunity. Conversely, if the price falls below the 20-day EMA, it could signal a potential stop loss and deter buyers.

Correction Phase Status: On the daily timeframe, DOGS has shown weakness after reaching its all-time high, with a 37% correction phase. If the price surpasses the $0.00120 mark, it might attract buyers and perform positively. However, if it faces a negative pullback, the bearish trend could continue.

Forecast: The DOGS price is currently in a pivotal phase. It may experience a bullish breakout if it stays above key levels such as the 20-day EMA and $0.00120. Monitoring these levels will be crucial for understanding future price movements and potential new highs.#DOGSONBINANCE #USNonFarmPayrollReport #PowellSpeaks #BinanceBlockchainWeek #CryptoDecision