Based on technical analysis, I will provide a detailed assessment of $DOT /USDT:
Comprehensive technical analysis:
Trend indicators:
MA: The current price (6.968) is below both MA20 (6.981) and MA50 (7.006), indicating a short and medium-term downtrend.
The MACD is giving weak signals with a negative histogram (-0.00093), confirming the downtrend.
Bollinger Bands show that the price is in the lower range of the bands.
Momentum indicators:
RSI(24) = 43.67 is in the neutral zone leaning towards weak.
Stochastic (%K=9.52, %D=13.60) is in the strongly oversold zone.
MFI14 = 34.00 is also in the oversold zone.
Volume indicators:
Volume is below average.
Buy/Sell Ratio (Buy Volume Ratio = 0.77) indicates that buying pressure still dominates.
CMF20 is positive (0.062) showing that cash flow is still entering the market.
Trend forecast:
4-24h scenario:
Scenario 1 (60% probability): Sideways in the range of 6.95-7.05.
Scenario 2 (30% probability): Test support at 6.90-6.92.
Scenario 3 (10% probability): Recovery up to 7.10-7.15.
1-2 week trend:
The main trend remains sideways-down.
Strong support zone: 6.90-6.92.
Important resistance zone: 7.15-7.20.
Trading recommendation:
Signal: WAIT.
Wait for accumulation in the current price range.
Potential entry points: 6.90-6.92 (long) or 7.15-7.20 (short).
Stop loss & Target when there is an entry signal:
Long: Stop loss: 6.85, Target: 7.10-7.15.
Short: Stop loss: 7.25, Target: 6.95-7.00.
Confirmation signs:
Long: RSI crosses above 50, Stoch exits the oversold zone.
Short: Price breaks MA50, MACD crosses down.
Cancellation signs:
Long: Price breaks 6.85.
Short: Price exceeds 7.25 with high volume.