🌐 Technical Analysis of Polkadot (DOT) 📈
(Disclaimer: This is not financial advice)
Polkadot at a Crossroads: Trading around $3.20
The DOT coin is currently trading around the $3.20 level, indicating an attempt to bounce and stabilize above the strong support area. This area is crucial for determining short-term momentum.
Watch and Trade Levels:
Immediate Critical Support: $3.05 - $3.10. Maintaining trading above this range is key to stability.
Resistance/First Target: $3.30. Breaking this level provides a short-term bullish reversal signal.
Second Target after Breakout: $3.50 - $3.70. (Important medium-term resistance range).
Short-term Movement Expectation:
Given the price trading at $3.20 (a bit above critical support), the focus now shifts to overcoming nearby resistance at $3.30. Success in breaking $3.30 confirms bullish momentum and opens the path towards the $3.50 - $3.70 range in the short term.
Important Note: Breaking the $3.00 level may lead to further declines.
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