SasanSeifi| Will DOT Break Out Above $4.50?
2024-09-23

Hey there, ✌ By analysing the daily chart of  BINANCE:DOTUSDT  , we can see that the price has been in a downward trend for some time and is currently trading in a range around $4. The current key support level is at $4.

One scenario to consider in the daily timeframe is that if the price breaks the downtrend and stabilizes above $4.50, it could reach short-term targets around $5, as well as targets in the range of $5.80 and the supply zone at $6.

To better understand the future price movements, it’s essential to observe how the price reacts to these levels.

(For a continued bullish trend in the long term, breaking the significant supply area at $6 and stabilizing above it is crucial.) Conversely, if the price breaks below the $4 level and stabilizes after a range-bound period, the likelihood of further price corrections may increase.

💢This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊