Let’s dive into the analysis of $DOT

Trend Overview:

- $DOT reached a peak of 11.7 USDT before starting a downward trend.

- It hit a low of 3.6 USDT, showing strong support.

- Right now, it’s bouncing back, trading around 4.69 USDT.

Moving Averages (MA):

- The short-term MAs (7 and 25) are at 4.5 and 4.4, close to the current price.

- The long-term MA (99) is at 5.7, which could act as a resistance level.

Support and Resistance Levels:

- Support: 3.6 USDT

- Resistance: 5.0 USDT (psychological level) and 5.7 USDT (MA99)

Volume & Market Activity:

- Volume is moderate

Predictions:

- Bullish Scenario:

- If DOT breaks above 5.0 USDT and holds, it could test 5.7 USDT.

- A strong breakout above 5.7 USDT could push the price toward 6.8 - 7.0 USDT.

- Bearish Scenario:

- If the price fails to hold above 4.6 USDT, it could drop back to 4.0 - 3.6 USDT.

- Breaking 3.6 USDT would be very bearish, possibly leading to 3.2 USDT or lower.

Conclusion:

- The short-term trend is slightly bullish, but strong resistance exists around 5.0 - 5.7 USDT.

- A breakout above 5.7 USDT would confirm a trend reversal.

(This is not a trading advice DYOR)

$BTC