DOT/USDT (Perpetual) Trading Analysis (Monthly Timeframe)
Current Market Overview:
Last Price: $3.956
24h High: $4.283
24h Low: $3.650
24h Volume (DOT): 59.85M
24h Volume (USDT): 235.82M
Price Change (24h): -4.88%
Technical Indicators & Trends:
Support Levels:
Strong support near $3.55 (recent low).
Another key support at $3.13 (historical low).
Resistance Levels:
Immediate resistance at $4.28 (24h high).
Strong resistance at $6.40-$6.50 based on past price action.
Major resistance around $9.66 (historical level).
Moving Averages (MA):
7-day MA: 5.56 (Price trading below it → bearish trend).
25-day MA: 5.88 (Another sign of weakness).
Trading Strategy with TP (Take Profit) & SL (Stop Loss):
Scenario 1: Long (Bullish Setup)
Entry Zone: $3.80 - $3.95
Take Profit (TP):
TP1: $4.28
TP2: $5.50
TP3: $6.40
Stop Loss (SL): $3.50
Scenario 2: Short (Bearish Setup)
Entry Zone: $4.00 - $4.20
Take Profit (TP):
TP1: $3.65
TP2: $3.50
TP3: $3.13
Stop Loss (SL): $4.50
Conclusion:
Bearish Trend: Price is trading below key moving averages.
Buy Near Support: If DOT holds above $3.55, a bounce is likely.
Short Near Resistance: If price rejects $4.20-$4.50, a drop towards $3.50 is possible.
Would you like a detailed risk/reward ratio analysis for these setups?