Summary
•
traded in a tightening range before surging past 4.74e-05 on strong volume.
• A bullish engulfing pattern formed at 4.73e-05, suggesting short-term momentum may continue.
• RSI approached 60 while MACD showed positive divergence, signaling rising buying pressure.
• Bollinger Bands expanded after a period of consolidation, reflecting increased volatility.
• Turnover spiked sharply in the final 3 hours, suggesting renewed interest in DOGS/Tether.
DOGS/Tether (DOGSUSDT) opened at 4.55e-05 at 12:00 ET−1, reached a high of 4.82e-05, and a low of 4.51e-05, closing at 4.78e-05 at 12:00 ET. Total volume was 2.18B, and turnover hit $103,824.
Structure & Formations
DOGSUSDT found key support at 4.51e-05 and tested resistance at 4.74e-05 twice before breaking through. A bullish engulfing pattern formed near 4.73e-05, indicating short-term buyers may take control.
Moving Averages
On the 5-minute chart, price closed above the 20-period and 50-period moving averages, suggesting upward momentum. Daily MA levels remain untested as the pair has not yet traded a full 24-hour period.
MACD & RSI
MACD turned positive with a widening histogram, suggesting growing bullish momentum. RSI reached 60, near overbought territory, but not yet at extremes, leaving room for further upward movement before a possible correction.
Bollinger Bands
Volatility expanded significantly in the final hours, with price pushing above the upper band at 4.78e-05. This expansion suggests increased conviction among traders and could signal a continuation of the current trend.
Volume & Turnover
Trading volume spiked sharply in the last 3 hours, particularly around the 4.74e-05 level, confirming price action. Notional turnover spiked by over 200% compared to earlier in the day, aligning with the breakout move.
Fibonacci Retracements
A key 61.8% retracement level lies at 4.75e-05, and price has pushed through this level with strong volume, suggesting buyers are confident in the current upward trend.
DOGSUSDT appears to be consolidating a short-term bullish trend, with momentum and volume aligning in favor of higher prices. However, traders should remain cautious as the pair may face profit-taking pressure near 4.85e-05 in the next 24 hours.
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