DOT/USDT Weekly Analysis
🔹 Key Resistance & Spot Trigger:
The chart indicates a major resistance level around $10.465, where the price previously faced rejection. This zone acted as a spot trigger, leading to a sharp decline in price.
🔹 Price Action & Trend:
After the rejection at the resistance, the price dropped significantly, aligning with the downward movement of the orange moving average. Currently, the market is testing a key support zone between $3.90 - $4.50.
🔹 Volume Analysis & Sales Pressure:
The increase in sales volume suggests that sellers are still in control. However, if the price finds strong support in the highlighted box, we may see a potential reversal or accumulation phase.
🔹 Future Outlook:
📉 If the support fails, further downside towards lower historical levels is possible.
📈 If buyers step in, a recovery towards the $6 - $7 resistance zone could be expected.
💡 Trading Plan: Watch for bullish signals within the support area before entering a position. Confirmation via volume and candlestick patterns will be crucial.
The chart indicates a major resistance level around $10.465, where the price previously faced rejection. This zone acted as a spot trigger, leading to a sharp decline in price.
🔹 Price Action & Trend:
After the rejection at the resistance, the price dropped significantly, aligning with the downward movement of the orange moving average. Currently, the market is testing a key support zone between $3.90 - $4.50.
🔹 Volume Analysis & Sales Pressure:
The increase in sales volume suggests that sellers are still in control. However, if the price finds strong support in the highlighted box, we may see a potential reversal or accumulation phase.
🔹 Future Outlook:
📉 If the support fails, further downside towards lower historical levels is possible.
📈 If buyers step in, a recovery towards the $6 - $7 resistance zone could be expected.
💡 Trading Plan: Watch for bullish signals within the support area before entering a position. Confirmation via volume and candlestick patterns will be crucial.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"🤖 Smart Trading Bots | 🚀 Advanced Market Analysis & Strategies | Helping You Trade Smarter, Not Harder!"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.