The Dogs cryptocurrency has recorded a remarkable rise, reaching $0.0009 in the past hours, which has attracted the attention of investors in the cryptocurrency market. According to the technical analysis, the chart has formed a head and shoulders pattern, which is a common pattern in technical analysis that indicates the possibility of a continuation of the upward trend or a reversal in price movement.
Chart analysis
Technical pattern: The head appears between two almost symmetrical shoulders, reflecting a consolidation phase that may precede the upside.
Support and resistance levels:
Current resistance: $0.0009.
Strong support: $0.00077.
Movement forecast
If the price manages to break the resistance level, we are likely to see targets for higher levels that may reach $0.001. However, the high volatility in the cryptocurrency market requires caution.
Tips for investors
Follow market news and price movements regularly.
Use stop loss tools to reduce potential risks.
Beware of sudden market changes, especially with small cap currencies like Dogs.
