Polkadot (DOT/USDT) – Market Analysis & Trade Setup
Polkadot is currently completing a potential A-wave corrective rally, testing strong resistance around $5.16–$5.30, where price got rejected after reaching the 100% Fibonacci extension. The market structure suggests we may now enter a B-wave pullback before a potential continuation higher (C-wave).
Key Technical Levels:
Immediate Resistance: $5.31 – $5.50
Major Upside Levels (if rally continues): $6.16, $7.15, $8.84
Micro Support: $4.85 – $4.49
Major Support Zone: $4.34 – $3.58 (must hold to maintain bullish structure)
Trade Plan:
Entry Zone 1 (Aggressive): $4.85–$4.49 (micro pullback area)
Entry Zone 2 (Conservative): $4.10–$3.88 (if deeper B-wave correction plays out)
Targets:
TP1: $5.31
TP2: $6.16
TP3: $7.15
Stop Loss: Below $3.58 (structure invalidation)
Risk Warning: Break below $4.49 starts topping process; below $3.58 invalidates bullish count.