Analysis through 1-hour and 4-hour candlestick charts:
Short-term trend:
DOT's current price is around 6.65, constrained by the resistance zone formed by MA30 (6.68) and MA100 (6.86).
The candlestick trend shows weak fluctuations, and the price is still in a consolidation phase within a downward trend.
Medium-term trend:
Since the high point of 11.66 in December, the overall trend has continued to decline, showing a typical descending channel pattern.
MA7 (6.67) short-term moving average is turning down, and momentum appears slightly insufficient.
RSI is below 40, indicating that market sentiment is bearish.
Support and Resistance:
Main support levels: 6.60 (short-term low), 6.40 (previous bullish rebound support area).
Main resistance levels: 6.85 (MA100), 7.00 (integer psychological barrier).
Operational Strategy
Entry point: 6.62 (close to the support zone, buying on dips)
First take-profit level: 6.78 (near MA30)
Second take-profit level: 6.90 (further upward space after breaking through MA100 resistance)
Stop-loss level: 6.50 (exit if it falls below key support to avoid further downside risk)
Supplementary Technical Analysis
Bollinger Bands:
The current price is operating near the lower band, short-term rebound demand may exist, but the upper band resistance remains strong.
Trading Volume:
Recent trading volume has gradually shrunk, indicating that the market is in a wait-and-see state, and it is necessary to wait for an increase in volume to accompany directional selection.
MACD:
In the 1-hour chart, MACD is below the zero axis, the fast line shows signs of a golden cross, and the possibility of a short-term rebound is relatively large.
The 4-hour chart is still in a bearish trend, and the rebound strength may be limited.
Expected trend for today
It is expected that DOT's trend today will mainly be a range-bound fluctuation, possibly oscillating between 6.60 and 6.78 in the short term. If it can break through 6.85 with increased volume, the probability of further probing up to 7.00 increases; if it falls below 6.60, attention should be paid to the 6.40 support.
Summary Description
The current strategy focuses on short-term buying on dips, combined with key support and resistance for layout, and it is crucial to avoid blindly chasing highs and selling lows. Short-term operations still need to pay attention to changes in market sentiment and trends of mainstream coins.
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