Polkadot ($DOT ) is currently trading at $4.04, reflecting a 1.76% increase over the past 24 hours.
Step-by-Step Trading Signal Plan:
1. Monitor Key Support Level: DOT has reclaimed the critical $3.96 support, indicating potential bullish momentum.
2. Identify Higher Low Patterns: A "higher low" formation suggests a possible upward trend.
3. Utilize Fibonacci Retracement: Apply Fibonacci levels to pinpoint potential entry and exit points.
4. Set Stop-Loss and Take-Profit Orders: Implement risk management by defining clear stop-loss and take-profit levels.
5. Stay Informed: Keep abreast of market news and updates to adjust strategies accordingly.
Analysts anticipate a potential rebound for DOT, with projections aiming towards $15 in the coming months.
