Will #DOT Break Free or Get Caught in a Bearish Trap? Key Levels
2025-01-17
Category: None

Yello, Paradisers! #DOTUSDT is gearing up for a major move, but will it be a breakout to new highs or a collapse to lower levels? Let’s dive into the current setup of #Polkadot:

💎#DOT is trading within a falling wedge formation, a classic bullish reversal pattern often seen before significant price surges. Over the last few weeks, we’ve seen multiple liquidity sweeps at lower levels, where impatient traders got shaken out. These sweeps usually hint at a potential breakout, but confirmation is still key before making any decisive moves.

💎#DOTUSD faces strong resistance near $8.00, which aligns with the upper boundary of the falling wedge. For bulls to take control, the price must close above this level on the 8-hour timeframe. A breakout here could trigger a powerful rally toward the $11.00–$11.5 major resistance zone, where sellers are likely to step in.

💎The first significant support level sits at $6.41, an area where buyers have consistently entered the market. If this zone holds, it could serve as a springboard for the next upward move. If #Polkadot closes below $6.41, the next major support lies between $5.80–$5.34.

💎A close below $5.34 would signal a breakdown of bullish momentum, increasing the likelihood of a prolonged bearish phase. The bears will take control of the price movement and it will fall to lower support levels.

Stay focused, patient, and disciplined, Paradisers🥂

MyCryptoParadise
iFeel the success🌴 