DOT Strongly Rises, Can It Challenge the $8 Mark Again?

Support and Resistance Level Analysis:

• Current Price: $7.596

• Key Support Level: $7.460 (Short-term Support)

• Secondary Support Level: $7.165 (MA99 Support)

• Short-term Resistance Level: $7.735 (24-hour High)

• Strong Resistance Level: $8.044 (Recent High)

Technical Analysis:

1. Moving Average Trend: Price is above MA7, MA25, and MA99, indicating a still strong short-term trend; MA7 is attempting to flatten out, which may indicate a need for adjustment.

2. MACD Signal: DIF and DEA are gradually converging, with the red bars weakening, suggesting that short-term momentum may weaken.

3. Volume Observation: Volume has significantly increased during the upward phase, but subsequent volume has gradually weakened, necessitating attention to changes in capital inflow.

Strategy Recommendations:

• Bullish Strategy: If it breaks above $7.735, consider taking a light long position, targeting $8.044 and $8.200, with a stop-loss set below $7.500.

• Bearish Strategy: If it falls below $7.460, consider taking a light short position, targeting $7.165 and $7.000, with a stop-loss set above $7.600.

Risk Warning:

The current price is in a high volatility area, and the trend may change; it is recommended to strictly execute profit-taking and stop-loss measures to avoid being swept out by volatile market conditions.

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