Here is the analysis of the $DOGS coin on the hourly frame:
1. General trend:
The price is on a strong rise (+23.52%), indicating positive momentum.
2. Moving averages (MA):
The short-term moving average (MA7) is above the longer averages (MA25 and MA99), indicating an upward trend in the near term.
3. Relative Strength Index (RSI):
RSI is at 91, which means that the coin is in the overbought zone, and there may be a correction soon.
4. MACD:
The lines indicate positive momentum with a clear improvement in the green bars, which supports the continuation of the upward trend.
5. Trading volume:
A significant increase in trading volume, which shows great interest from traders.
Recommendations$♥:
If you own the coin: Consider securing profits, especially since the RSI indicates a possible correction.
If you plan to enter: Wait for a correction or confirmation of a sustained breakout before buying.
