$DOT
/USDT Technical Analysis and Trade Strategy🚀🎯
Current Status
Price: $11.31 (+12.80%)
Trend: Bullish breakout confirmed by Bollinger Bands and SAR.
Volume: High trading volume supports strong momentum.
Indicators: Price trading above the Upper Bollinger Band suggests potential overbought conditions.
Trade Strategy
1. Entry Point
Buy Zone: Wait for a slight retracement to $11.00–$11.10 (close to the upper Bollinger Band).
Stop Loss: Place a stop loss at $10.20 (below SAR level and Bollinger middle band).
2. Target Levels 🎯
Target 1 (Short-term): $11.75
Reason: Resistance around the psychological level and profit-taking zone after breakout.
Target 2 (Mid-term): $12.30
Reason: Extended bullish momentum could push DOT to this level as traders build positions.
Target 3 (Long-term): $13.50
Reason: A test of higher resistance if volume remains strong and market sentiment supports continuation.
3. Risk Management
Risk/Reward Ratio: Aim for at least 1:2 or 1:3.
Trailing Stop: Use a trailing stop of 2% to lock in profits as the price advances.