SasanSeifi| Will DOT Break Out Above $4.50?
Updated
Hey there, ✌ By analysing the daily chart of 
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! ✌😊
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! ✌😊
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Polkadot, following the breakout from the trend line and the $4.50 level, has risen nearly 9% and reached the first target of $5 so far.🤑
Note
As expected, following the break of the downward trend line, the price managed to rise approximately 9.50% to the first target of $5. However, it reacted negatively at this level, leading to a return towards the demand zone. In the last analysis, it was mentioned that if the critical range of $4.30 to $4 is maintained and the price remains in a range-bound trend, there is a possibility of moving back towards the $5 to $5.50 range upon confirmation. Additionally, if the $4.30 to $4 range is broken and the price stabilizes below it, the likelihood of a further correction towards the $3 target will increase.
As observed, the current price is at $4.20, oscillating within this range. From an analytical perspective, the previous report remains valid. Maintaining the $4 level is crucial for the intended outlook.
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