Judging by the chart, the situation looks tense and the price continues to fall. Let's figure out where the price might go.
📉 Possible fall
The price has already broken through the level of 0.0007040, and the current value of 0.0006782 is in a downtrend. If the sellers' pressure continues, the nearest support will be around 0.0006642. If this level does not hold, the price may fall to 0.0006579, which will be a critical point.
📈 Potential growth
If a reversal occurs, the first resistance level will be 0.0007040. If this level is confidently broken, the price may rise to 0.0007501, where consolidation was previously observed.
🔍 A couple of important facts:
1. The price is below the main moving averages (MA 25 and MA 99), which confirms the bearish sentiment of the market.
2. The volume level shows that active sales continue, but if volumes decrease, an upward correction may occur.
📊 What to do if you have DOGS?
If I kept this coin in my briefcase, I would:
Lock in some of your profits or losses to protect your capital as further declines are possible.
I would consider opening a position on a rebound from the 0.0006642 level if there are signals for a trend reversal.
Personally, I would stand in:
A short position with a target of 0.0006642, or waited for confirmation of a reversal to open a long position upon breaking through 0.0007040.
📌 Don't forget to monitor volumes and dynamics! Happy trading! 🚀
