$DOGS charts indicates strong buyer pressure, with a majority of participants looking to buy DOGS at the current price levels. A bullish sentiment prevails in the short term.
The candlesticks in the 15-minute time frame show an upward movement, forming higher highs and higher lows. This typically indicates strong buying interest.
The latest candles show minimal correction, suggesting that buyers are holding their positions and momentum may continue upward unless sellers step in.
Trading Strategy Suggestions:
1. Bullish Bias:
Given the price is near the 24h high and above key moving averages, momentum traders may consider entering long positions. The next resistance is near the 0.0008150 level. If that breaks, further gains could follow.
2. Support Levels:
In case of a pullback, the support level to watch is 0.0007761, which aligns with recent price consolidation.
3. Caution:
If the price falls below the 5 and 25 MA levels, it could indicate a short-term reversal. Monitor the volume for any sudden spikes in selling activity.
The overall market trend appears bullish with strong buy-side demand, supported by increasing prices and favorable sentiment in the order book. Traders could look for breakout opportunities above 0.0008150 or buy on dips close to 0.0007761 to benefit from the trend continuation.
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