$DOT Analysis – Reversal Signs Near Support
The $DOT chart is consolidating near a critical support zone at $6.80, indicating potential for a bounce. If the price holds above this level, a bullish recovery could be expected.
Key Levels:
Resistance: $7.00 (immediate) and $7.20 (major)
Support: $6.80 (critical level)
Trading Plan:
Entry: Consider long positions above $6.90 after confirmation of a rebound.
Target 1: $7.20
Target 2: $7.40
Stop Loss: $6.75 (below support zone)
Observation: Watch for volume and bullish candlestick patterns around the support level. A breakdown below $6.80 could invalidate the bullish bias.