Short-term analysis of $dot: Price projection, resistances, supports, entry points, and profit taking

CONTEXTUAL ANALYSIS

On this second day of decline, we observe the loss of bullish momentum and strong bearish pressure, which provides new buying opportunities (as long as BTC dominance and the dominance of 75317050898 are monitored). It is unlikely that Dot will reach levels below 7 USD. However, it is necessary to operate with utmost care, even if the long-term trend is bullish and we are experiencing a bearish correction, this pullback can be extremely volatile and may be designed to trigger stop losses.

RESISTANCES

Dot has not performed excellently, but it has a lot of potential due to its intrinsic value, in addition to a loyal community that understands the project. This can be a winning mix that helps the next supports act as magnets for the price and reach important targets:

- 11.306

- 12.30

- 14.236

- 18.000 (Psychological level)

- 19.55

SUPPORTS

Like many market corrections, an unparalleled opportunity arises to consolidate the important supports of these recent bullish weeks. We identify how the price may be in a zone of indecision/lateral, a price range where buying and selling are much more constant, thus forming a much stronger support with projections to scale the price. These supports are:

- 8.386

- 7.598

- 7.363

- 6.518 (If this last support is broken, we will find a wide liquidity zone down to approximately 4.7 USD)

ENTRY POINTS

This opportunity that the market offers us amid the surge of cryptocurrencies, new ATH of 48535522559 and much speculation around the participation of market whales, can serve as a boost so that when hope is lost in Dot, it rises again with great strength. If this is the case, the possible points would be:

- 7.599

- 7.874

STOP LOSS

- 6.455

CONCLUSION

(see comments)