The post DOGS sets sight on its short-term price target appeared on BitcoinEthereumNews.com.

DOGS token formed bullish pattern with a potential breakout and a $0.0012000 price target 65% of DOGS holders were in profit, signaling potential for upward price movement DOGS token, a new memecoin on the TON blockchain, is gaining attention within the crypto community due to its recent price performance. However, despite recording a slight price decline over the past week, analysts believe there may be a possible bullish reversal on the horizon. At press time, DOGS was priced at $0.001038, with a 24-hour trading volume of $310,482,455. This represented a minor 0.36% decline over the past 24 hours and a 3.65% drop over the past week. With a circulating supply of 520 billion DOGS tokens, the press time market cap stood at $534,686,829.  Technical indicators point to bullish reversal Mikybull Crypto, a crypto analyst, noted that DOGS appears to be forming a technical pattern known as an inverse head and shoulders. This is often seen as a bullish reversal signal. The pattern, characterized by three troughs with the middle trough being the deepest, is typically followed by a breakout above a “neckline.” Source: TradingView The price of DOGS seemed to form this pattern. And, a potential breakout above the neckline could lead to a price target of $0.0012000.  Additionally, the 50-period and the 100-period exponential moving averages (EMAs) were both at $0.0010400, indicating that the market may be in a consolidation phase. Simply put, the price is now trading close to these resistance levels, which could lead to further indecision between buyers and sellers. The Relative Strength Index (RSI), at press time, had a reading of 46, slightly below the neutral level of 50. This meant that while bearish momentum was present, the market was not in oversold territory. This left some room for potential upside movement. Source: TradingView Growing popularity…

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Filed under: News - @ September 13, 2024 4:22 am