DOGS Price Plunges 13% As Experts Say This New Meme Coin Might Be The Best Crypto To Buy Now
The DOGS price dropped 13% in the last 24 hours to trade at $0.001087 as of 00:28 a.m. EST on trading volume that rose 17% to $512 million.
This comes as the crypto market tumbled 3% in the last 24 hours to a $2.1 trillion capitalization. Similarly, tokens in the TON ecosystem took a hit as well, with TON dropping 5% and NOT dropping 6%.
DOGS Price Bearish – Can There Be A Rebound?
The DOGS price has invalidated the rounding bottom pattern formed between Aug. 27 and Aug. 29 to drop from the $0.001539 resistance zone, according to data from GeckoTerminal .
The price of DOGS has also been dropping from within a falling channel pattern and has since crossed below the channel’s lower boundary.
DOGS now trades below the 50 Simple Moving Average (SMA) on the 1-hour chart, which is an indication that the asset is now in a bearish trend.
Moreover, the Relative Strength Index (RSI) still trades below the 30-oversold region, currently at 26, but it is showing signs of rebounding.
The RSI shows that DOGS is currently undervalued, which offers buyers an opportune time to enter the market. If the buying picks up at this level, DOGS may soar over the falling channel, with $0.001435 acting as the target.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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