Technical Analysis for DOGS
Technical Analysis for DOGS 🐶
While it might be a bit early for a full technical analysis on DOGS, it's possible to assess the situation using the 4-hour and 1-hour timeframes. 🕒
Currently, the 24-hour trading volume has significantly decreased, which could indicate that the selling pressure from those who received the DOGS airdrop is subsiding 📉. The liquidity pool earnings for DOGS are at an acceptable level, making it a potential candidate for DeFi investments.
However, the biggest challenge remains that the true price of DOGS hasn't been fully established yet.
Key Observations:
On the 1-hour chart, DOGS is below a trendline, which can also be seen as a channel 📊.
If there isn't a downward movement within the next 21 hours, it will indicate a weakening of the downtrend. In that case, the probability of breaking the trendline and confirming the trendline trigger at 11656 increases. This could be an opportunity to place a buy order or open a long position with a stop below the box (the safest stop level) 🛑.
Based on the market structure, a smaller stop-loss could also be considered in this scenario.
However, if the price drops within the next 10 hours, the downtrend will strengthen, and the 10648 level could serve as a good trigger for a short position or selling DOGS 🚨.
Note: The support levels mentioned were determined using the reverse Fibonacci retracement method and are not entirely confirmed yet 🔍.
Important Reminder:
Technical analysis is based on probabilities, and no one can predict the future with certainty. Therefore, risk management and capital management are crucial at all times. 🚨📉
Categories: Trend Analysis, Support and Resistance, Fibonacci Analysis
Hashtags: #DOGS #CryptoAnalysis #DeFi #Tradecitypro #TCP 🚀
While it might be a bit early for a full technical analysis on DOGS, it's possible to assess the situation using the 4-hour and 1-hour timeframes. 🕒
Currently, the 24-hour trading volume has significantly decreased, which could indicate that the selling pressure from those who received the DOGS airdrop is subsiding 📉. The liquidity pool earnings for DOGS are at an acceptable level, making it a potential candidate for DeFi investments.
However, the biggest challenge remains that the true price of DOGS hasn't been fully established yet.
Key Observations:
On the 1-hour chart, DOGS is below a trendline, which can also be seen as a channel 📊.
If there isn't a downward movement within the next 21 hours, it will indicate a weakening of the downtrend. In that case, the probability of breaking the trendline and confirming the trendline trigger at 11656 increases. This could be an opportunity to place a buy order or open a long position with a stop below the box (the safest stop level) 🛑.
Based on the market structure, a smaller stop-loss could also be considered in this scenario.
However, if the price drops within the next 10 hours, the downtrend will strengthen, and the 10648 level could serve as a good trigger for a short position or selling DOGS 🚨.
Note: The support levels mentioned were determined using the reverse Fibonacci retracement method and are not entirely confirmed yet 🔍.
Important Reminder:
Technical analysis is based on probabilities, and no one can predict the future with certainty. Therefore, risk management and capital management are crucial at all times. 🚨📉
Categories: Trend Analysis, Support and Resistance, Fibonacci Analysis
Hashtags: #DOGS #CryptoAnalysis #DeFi #Tradecitypro #TCP 🚀
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.