DOGS/USDT - H&S Pattern Signals a Potential Reversal
hello guys.
let's dive into Dogs analysis!
Head and Shoulders Formation:
A classic head-and-shoulders pattern formed at the top of this recent rally, indicating a potential trend reversal.
Broken Ascending Channel:
The price recently broke out of a minor ascending channel, further reinforcing the likelihood of a bearish continuation.
Support Zones:
The price could retest the $0.000740 level before heading lower. The next strong support zone lies around $0.000700, marked by a previous consolidation area.
Descending Channel:
The broader price action shows a descending channel. After the breakdown from the head and shoulders, the price is expected to move towards the lower boundary of this channel.
let's dive into Dogs analysis!
Head and Shoulders Formation:
A classic head-and-shoulders pattern formed at the top of this recent rally, indicating a potential trend reversal.
Broken Ascending Channel:
The price recently broke out of a minor ascending channel, further reinforcing the likelihood of a bearish continuation.
Support Zones:
The price could retest the $0.000740 level before heading lower. The next strong support zone lies around $0.000700, marked by a previous consolidation area.
Descending Channel:
The broader price action shows a descending channel. After the breakdown from the head and shoulders, the price is expected to move towards the lower boundary of this channel.
Note
the neckline broke down, and after a retest, the price started to go downward!
#dogs #dogsusdt
Note
it didn't touch the blue area!
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telegram channel: t.me/melikatrader94
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