🚀 $DOT /USDT PLUMMETS: IS THE BEARISH TREND HERE TO STAY? 📉

The $DOT /USDT pair has experienced a significant decline, currently trading at $8.499, down by 5.97% in the last 24 hours. The 24-hour high was $9.517, while the low touched $8.455. The trading volume for DOT stands at 21.46M, and for USDT, it is 195.01M.

📊 Current Market Conditions

The chart shows a clear bearish trend with a series of lower highs and lower lows. The price has been steadily declining from the 24-hour high of $9.517 to the current level of $8.499. The market sentiment appears to be negative, with sellers dominating the market.

💡 Trade Scenarios 💹

- Bullish Scenario: If the price manages to break above the resistance level of $8.80, we could see a potential move towards $9.00.

- Take Profit (TP): $9.00

- Stop Loss (SL): $8.40

- Bearish Scenario: If the price continues to fall and breaks below the support level of $8.40, the next target could be $8.20.

- Take Profit (TP): $8.20

- Stop Loss (SL): $8.60

🔍 Market Outlook 🔮

Given the current bearish momentum, traders should exercise caution. The market could continue to see downward pressure unless there is a significant change in market sentiment or external factors influencing the price of DOT.

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