$DOT /USDT: Consolidation Amid Mild Downtrend

Polkadot (DOT) is currently trading at $8.18, marking a 2.15% decrease in the last 24 hours. DOT is consolidating near its recent lows, showing potential for a breakout depending on broader market sentiment.

Key Data Points:

24h High: $8.37

24h Low: $7.55

24h Volume (DOT): 20.54M DOT

24h Volume (USDT): $163.40M

Trade Strategy:

Long Position: Enter above $8.40, targeting $8.70 and $9.00. Set a stop loss at $8.10.

Short Position: Enter below $7.50, aiming for $7.20 and $6.90. Place a stop loss at $7.70.

Market Outlook:

DOT/USDT's support at $7.50 remains critical, while resistance at $8.40 could limit upside potential. Increased trading volume near these levels could indicate the next significant move. Stay cautious and monitor for market-wide volatility.

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