📈 Chart Overview:
👉 Asset: DOT/USDT (Polkadot)
👉 Timeframe: 1-hour
✅ What the Chart Does Right:
1. Spot Price Marked Clearly (Blue Line)
👉 Shows the current trading level: around $3.948.
👉 This helps in identifying where the price is relative to key zones.
2. Resistance Zone Identified Accurately
👉 Labeled just above the current price (around $4.00).
👉 This level previously acted as support, and then as resistance, making it a valid decision area.
👉 Price has touched and slightly pulled back, which aligns with expected resistance behavior.
3. Supply Zone is Well-Placed
👉 Located around $4.15–$4.30.
👉 This zone previously saw strong selling and a sharp move down.
👉 It’s where sellers overwhelmed buyers, so it's rightly marked as a supply zone.
4. Demand Zone is Logical
👉 Placed between $3.70–$3.80.
👉 Price reversed sharply upward from here before, confirming buying pressure.
👉 This is a supportive area for potential long entries if price pulls back again.
🔄 Price Action Behavior:
👉 Price recently bounced off the demand zone and moved up.
👉 It is now testing the resistance zone near the $3.95–$4.00 level.
👉 If it breaks and holds above resistance, it could push toward the supply zone.
👉 If it fails to break resistance, it may retrace back toward the demand zone.