Analysis of DOGS/USDT on the 4H timeframe
Currently, DOGS/USDT is trading at 0.0001779 USDT, down more than 5.4% and approaching the lowest price range in 24 hours at 0.0001775. Overall, the short-term trend is quite negative and the possibility of further decline remains.
In terms of technical analysis, all important moving averages such as MA7, MA25, and MA99 are currently above the current price. Notably, DOGS was recently strongly rejected at the resistance areas of MA99 (around 0.0001841) and MA25 (around 0.0001856), indicating that selling pressure still prevails. The short-term EMA lines have also just crossed downwards, signaling the likelihood of continued adjustment.
Regarding strength indicators:
• RSI(6) is at 40, RSI(12) is 42.5, and RSI(24) is 44.6. All three indicators are trending downwards, not yet in the oversold zone but indicating that the buying side is still not strong enough to reverse the trend.
• The William %R indicator is at -70, also giving a negative signal and not showing any clear signs of reversal.
• OBV continues to maintain a downward trend, indicating that money is flowing out of the market.