#SUNDOG Price Surge: Bull Trap Ahead?
Tron -based meme coin Sundog surged 8% in the past 24 hours, breaking out of a falling wedge pattern seen since September. While this usually signals a bullish trend, analysts are cautious, hinting at a possible bull trap.
SUNDOG’s Breakout: Bullish or Bull Trap? The breakout suggests strong buyer interest, but indicators like the Super Trend and Balance of Power (BoP) show potential bearish pressure. The Super Trend remains red, indicating a downtrend, while the BoP is at -0.82, signaling sellers’ dominance.
If SUNDOG fails to hold the breakout level, it may drop back to $0.09. However, a sustained rally could push it toward $0.20. Traders should watch for a retest of the breakout level and keep an eye on Bitcoin’s performance for broader market influence.
