$DOT has experienced a significant drop of 15.57% in the last 24 hours, currently trading at $6.428, down from a high of $7.802. The price is testing the day’s low of $6.401, indicating strong bearish pressure.
Key Levels to Watch:
Support: $6.40 – A break below this level could lead to further declines toward $6.00 or lower.
Resistance: $7.00 – A push above this level is necessary to shift the trend.
Trade Setup:
Entry Point: Around $6.42 for cautious short-term trades.
Targets:
1. $7.00 (short-term resistance)
2. $7.80 (major recovery zone)
Risk Management:
Stop-loss: $6.20 to limit potential losses.
Market Insight: $DOT is facing strong selling pressure, but a bounce at the $6.40 support level is possible, provided there is volume confirmation. Traders should wait for signs of stabilization before taking larger positions.