DOT/USDT 1D Analysis Update
Key Support & Resistance Levels:
S1 ($3.637): A crucial support level that has historically served as a strong accumulation zone.
R1 (Descending Resistance): A key trendline resistance that DOT needs to break to signal a potential reversal.
R2 ($8.089): A significant resistance zone where past breakout attempts have failed.
High: $11.889 (last major peak).
Low: $3.590 (historical bottom).
Technical Indicators & Market Sentiment
🔹 Trendline Analysis:
DOT remains below R1, maintaining a downtrend. A breakout above this resistance could be the first indication of a shift in trend, paving the way for higher price targets.
🔹 Potential Bullish Reversal Scenario:
If DOT breaks R1 and sustains above $5.50, a rally toward $6.50–$7.00 is likely.
A decisive move above $8.00 would confirm a full trend reversal, with mid-term targets of $10–$12.
🔹 Bearish Breakdown Scenario:
Failure to hold above $4.50 or a rejection at R1 could result in a retest of $3.63 (S1).
📈 Bullish Breakout Plan:
Enter long positions if DOT breaks R1 and holds above $5.50.
Target price levels: $7.00–$8.00 initially, with a possible extension to $10–$12.
📉 Bearish Breakdown Plan:
Consider short positions if DOT fails to reclaim $5.50 and starts declining.
Target price levels: $4.00–$3.60, with a potential deeper drop if $3.60 fails to hold.