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Summary
• Price tested and reclaimed key resistance at $0.000048, forming a bullish engulfing pattern around 03:45 ET.
• RSI showed a temporary overbought signal above 65 but failed to sustain momentum into the late session.
• Volume surged during the 18:45–19:45 ET window, confirming the breakout attempt but with mixed follow-through.
The DOGS/Tether (DOGSUSDT) pair opened at $0.0000459 and reached a 24-hour high of $0.0000488 before closing at $0.0000483 by 12:00 ET. The low was $0.0000458. Total volume amounted to 11,341,796,128.0, with a notional turnover of approximately $543,016.
Structure & Formations
Price formed a key bullish engulfing pattern around $0.000048 at 03:45 ET, signaling a potential short-term reversal. A doji appeared at 23:45 ET near $0.000048, hinting at indecision before the final push higher. Support levels formed at $0.0000476 and $0.0000465, while resistance emerged at $0.0000483 and $0.0000488.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages were closely aligned, trending upward post 18:45 ET. The daily chart showed the 50-period MA around $0.0000478, with price above both the 50 and 200-period lines, suggesting a positive bias.
MACD & RSI
MACD crossed above the zero line and showed a narrow histogram expansion, indicating moderate bullish momentum. RSI peaked at ~67 during the 03:45 ET window but fell back below 60 by close, suggesting overbought conditions had not sustained.
Bollinger Bands
Volatility expanded during the 18:45–19:45 ET period, with price moving near the upper band. Later in the session, bands tightened slightly, indicating potential for a breakout or reversal.
Volume & Turnover
Volume spiked sharply during the breakout window, with notional turnover rising by ~15% compared to earlier in the day. Price and turnover aligned during the key bullish phase, offering confirmation, but divergence appeared in the final hour.
Fibonacci Retracements
A key 5-minute swing from $0.0000458 to $0.0000488 saw price retest the 61.8% level at $0.0000478 before rebounding. On the daily chart, a 38.2% retracement of the prior down leg now aligns with current price, suggesting potential for further consolidation or a test of the 61.8% level.
In the next 24 hours, DOGSUSDT may attempt a test of $0.0000490 if bullish sentiment holds. However, traders should remain cautious of a potential pullback to the $0.0000476–$0.0000478 range if volume does not confirm further upside.
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