Technical analysis $DOLO /USDT (D timeframe)
$DOLO @Dolomite After a rapid increase, it has quickly adjusted strongly with a series of consecutive red candles. Currently, the price is moving sideways around 0.19–0.20, below the short-term MA and far from MA25, indicating that the dominant trend is still leaning towards a decline.
Regarding the important price area: the nearest support is 0.19, if broken, it can easily retreat to 0.18 – 0.165. The nearest resistance is at 0.205–0.210, higher levels are at 0.24–0.25 and 0.30. Especially, the area 0.385 (MA25) will be a strong resistance if there is a deep pullback.
Scenario 1 (trend following): consider selling around 0.205–0.210, set SL 0.225, TP respectively 0.190 – 0.180 – 0.165. The R:R ratio can reach 1:3 if held to TP3.
Scenario 2 (rebound, high risk): only open a buy order when the price closes above 0.210, SL 0.195, TP 0.240–0.250 and further 0.300, with R:R up to 1:4.
Capital management is the key factor, only risk a maximum of 1–2% of the account per trade. Waiting for D candle confirmation before entering will help limit risk.
THIS IS A PERSONAL OPINION NOT INVESTMENT ADVICE
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