Bearish📉🫣

$DOT /USDT Technical Analysis and Trade Signals


Current Price: $11.1 (+11.42%)

Momentum Analysis:

Polkadot (DOT) is exhibiting bullish momentum on higher timeframes, driven by increased trading volume and strong price recovery. However, short-term corrections indicate profit-taking, creating potential re-entry opportunities.

Support and Resistance Levels:

Immediate Support: $10.40

Key Support: $9.05 (24h low)

Resistance Zone: $11.50 - $11.80

Trade Setup:

Entry Zone:

Aggressive: $10.80 - $11.00

Conservative: $10.40 - $10.60

Stop Loss (SL): $9.80

Targets 🎯:

1. Target 1: $11.50

2. Target 2: $12.20

3. Target 3: $13.00

Indicators Overview:

1. RSI:

Currently at 70+ (overbought on smaller timeframes), indicating possible short-term pullback before continuation.

2. MACD:

Bullish crossover observed, confirming upward momentum.

3. Moving Averages:

Price is trading above 20 EMA and 50 EMA on the 1D timeframe, reinforcing the bullish outlook.

Trade Momentum:

Short-Term: Watch for a pullback to $10.80 for re-entry. A breakout above $11.50 could trigger momentum towards higher targets.
Mid-Term: A sustained move above $12.00 may confirm a strong uptrend, targeting $13.00 and beyond.
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