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🐕 DOG (Bitcoin) Under Pressure: Can Support Hold or Will the Slide Continue?
The bears are in full control of DOG right now. Trading at approximately $0.001053, the asset has dropped over 7% in the last 24 hours. The technical charts are flashing caution—here is the breakdown:
📉 Technical Outlook:
Sellers Dominating: Price is currently pinned below all key Moving Averages (MA-20, MA-50, and MA-200). This confirms a strong bearish momentum across short, medium, and long-term timeframes.The Resistance Wall: The immediate dynamic resistance sits at the Ichimoku Kijun level of $0.001320. Until we see a clean break above this, any bounce is just a relief rally.Oversold Signals: With the RSI at 35 and the Stochastic RSI in oversold territory, the selling pressure might be nearing exhaustion. However, a weak ADX suggests the current trend lacks the strength for a sharp reversal yet.
🔮 Price Prediction:
The base case for the next 5 days is consolidation within the $0.001034 – $0.001264 range.
Bullish Scenario: A decisive breakout above $0.001320 is required to flip the sentiment to bullish.Bearish Risk: If selling pressure persists and we lose the $0.001034 support, expect further downside exploration.
Expert Take:
Analysts at Traders Union note that while oversold conditions might limit immediate dumping, the lack of fresh catalysts keeps the bias to the downside. The market remains in "wait and see" mode. "Optimism will only return if DOG decisively reclaims the $0.001320 resistance," says Viktoras Karapetianz.
⚠️ Disclaimer: Not financial advice. Always Do Your Own Research (DYOR) before trading.
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