A few TON-based tokens, including Dogs, have been showing signs of strength lately after bouncing slightly off their previous lows. Although they have briefly lost buzz, but still look bullish weekly following a double-bottom pattern.
Earlier this month, Dogs tested a low of $0.000468 after witnessing back-to-back drops in the past months. Holding this low as support, the price recovered to a month high and lost grip.
This led to a pullback, and the crypto pinned new support above the $0.0005 level during last week’s trading. Recovering from that level, the meme coin increased slowly, and from the look of things, it appeared to be reversing the trend on the daily chart.
If this reversal pattern comes into play, Dogs will most likely see a massive rally to the upside. The barrier for the bulls right now is the immediate $0.000825 level, marked as resistance two weeks ago.
Failure to overcome this resistance may result in a halt in the latest bullish signal. While still trading within a bearish zone, the price must drop below the monthly low before confirming another leg down.
Following some positive sentiments surrounding this token lately, it is considered one of the most promising meme coins on the TON network. And having posted a few gains in the past five days, the price is still very cheap to accumulate for a mid to long-term flip.
Dogs’s Key Levels To Watch
Breaking through the mentioned immediate resistance, the next key buy level would be $0.001 before rallying hard. Higher resistance levels for an increase are $0.00127 and $0.0018.
The latest move is currently supported by the $0.00058 level. If the price drops below it, it may roll back to the monthly low. A breakdown from there could dip the price into the $0.0004 and $0.0003 range.
Key Resistance Levels: $0.000825, $0.001, $0.00127
Key Support Levels: $0.000058, $0.000468, $0.0004
- Spot Price: $0.0007
- Trend: Bullish
- Volatility: Low
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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