$DOGS : Technical Analysis and Short-term Outlook

The #DOGS $/USDT pair shows a strong downtrend, losing about 18% from its recent high of 0.00118380.

Key observations:

Breakdown of crucial support at 0.00100000.

EMAs aligned in bearish order (EMA20 < EMA12 < EMA6).

Increased trading volumes during the decline.

RSI in oversold territory.

The forecast remains bearish with potential support levels near 0.00095000 and 0.00093000. A trend change requires price consolidation above EMA20 (≈0.00101000).

Potential growth catalysts may include positive project news or overall market sentiment improvement. However, given current dynamics, any rise is likely to face resistance at previous support levels.

Traders are advised to exercise caution. Short positions are risky due to possible quick rebounds, while long positions should await clear reversal signals.

Watch for increased volatility as the market seeks a new equilibrium #marketdownturn