- DOGS/USDT is forming a bullish W-pattern with clear support and resistance targets.
- On-chain data shows 72.74% of holders are at a loss with resistance levels near $0.001043.
- Traders can aim for up to 74.2% gains by targeting $0.0014882 with strategic entry at $0.0007297.
Renowned cryptocurrency analyst Rose Premium Signals has presented a detailed technical analysis of DOGS/USDT, identifying a strong bullish opportunity. As of December 8, 2024, DOGS/USDT is trading at $0.0008546 and showing signs of consolidation within a developing bullish structure.
DOGS/USDT Eyes $0.0014882: Key Entry at $0.0007297 for Traders
According to Rose’s analysis, the chart reveals a potential upward trajectory, supported by precise technical patterns and key price levels. With targets as high as 0.0014882, this analysis provides a roadmap for traders to navigate DOGS/USDT’s potential breakout.
The analysis pinpoints $0.0007297 as the support level, representing a demand zone and the suggested long entry” point. Historical price action indicates that this level has previously acted as a strong base for buyers, and Rose suggests that a retest of this zone could provide an excellent buying opportunity.
The current price consolidation near $0.0008546 supports the likelihood of an upward movement, while the technical structure hints at a steady progression toward the defined targets.
W-Pattern and $0.0007297 Support Suggest Strong Bullish Breakout
The presented graph sets two crucial price targets for traders to consider. The first target, labeled T1, is $0.0011670,70, marking the initial resistance level where partial profits can be taken. The second target, or T2, is $0.0014882, representing the ultimate resistance level and a 74.2% potential increase from the current price.
The price chart also shows a distinct W-pattern, a bullish reversal structure, signaling that DOGS/USDT is gearing up for a rally. The analysis incorporates a volume profile, highlighting areas of heightened trading activity and further validating these levels.
This data-driven analysis by Rose Premium Signals emphasizes strategic planning and precision in cryptocurrency trading. By entering near the $0.0007297 support and aiming for the outlined targets of $0.0011670 and $0.0014882, traders could achieve substantial gains.
The projected price movement suggests steady progress, with minor pullbacks as liquidity zones are revisited. For traders and investors seeking opportunities in the crypto market, DOGS/USDT offers a compelling case for bullish potential backed by clear data and technical expertise.
172.79k Addresses Profitable? What DOGS/USDT Data Reveals About Trends
According to the latest on-chain data from IntoTheBlock, the current price of DOGS/USDT is $0.000844, with a clear distribution of addresses in profit, at a loss, or breaking even. The analysis reveals that 172.79k addresses , representing 3.47% of all holders, are in the money”—indicating these holders purchased DOGS/USDT at a price below its current market value.
Meanwhile, 1.18 million addresses, or 23.78%, are “at the money,” implying their purchase price is nearly identical to the current market price. On the other hand, a portion of holders, amounting to 3.62 million addresses (or 72.74%), are “out of the money,” suggesting their purchase price was above the current market price.
The price clusters also highlight key ranges for potential accumulation or resistance. A notable support zone lies between $0.000744 and $0.000788, where a number of holders reside. Conversely, resistance levels appear stronger in the range between $0.000927 and $0.001043, as the majority of holders purchased at these levels and may seek to exit their positions at break-even points.
This data underscores the importance of these thresholds in influencing future price action. The coverage rate of 100% ensures all active addresses have been accounted for, adding credibility to this in-depth analysis. The insights derived from this distribution can help traders anticipate potential price movements and key psychological levels in the DOGS/USDT market.
