Summary
• Price action showed a bearish 5-min bias with key support tested near $0.0000403.
• Volume surged during the late ET session, indicating heightened interest.
• MACD and RSI suggest short-term momentum is waning.
DOGS/Tether (DOGSUSDT) opened at $0.0000418 at 12:00 ET – 1 and traded between $0.0000397 and $0.0000420 over the next 24 hours, closing at $0.0000406. Total volume reached 7.43 billion DOGS, with $306.4 million in notional turnover.
Structure & Formations
Price action on the 5-minute chart revealed a bearish consolidation pattern after a brief attempt to break above $0.0000415. A key support level near $0.0000403 appeared resilient, as seen in several bullish reversal candles.
. A potential short-term bullish pattern formed in the last hour of the period, though it remains unconfirmed.
Volatility and Bollinger Bands
Volatility expanded during the late ET session, with price testing the lower Bollinger Band at $0.0000403. This suggests increased bearish pressure and potential short-term oversold conditions.
Volume and Momentum
Volume spiked notably between 05:15 ET and 09:30 ET, with large notional turnover as price traded down to $0.0000402. This volume confirmed the downward move. However, recent volume has trended lower, signaling a potential exhaustion of sellers.
MACD and RSI
The MACD showed a bearish crossover earlier in the session, aligning with the downward move. RSI dipped to 28, suggesting short-term oversold conditions. Momentum appears to be waning, with no strong reversal signs yet.
Forward Outlook and Risk
DOGS/Tether appears to be consolidating near $0.0000403, with potential for a short-term bounce. A break above $0.0000415 could attract new buyers, but a retest of $0.0000400 poses a near-term risk. Investors should monitor volume and momentum signals for confirmation.
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