DOT/USDT: A Bearish Outlook 🐻

Current Situation:

DOT/USDT is trading at $8.51, down -1.50% in the last 24 hours. The 24-hour volume is $280.57M, indicating a moderate level of market interest.

Technical Analysis:

The chart shows a bearish trend with a potential descending triangle pattern forming. This pattern suggests a bearish breakout is likely. 📉

Trade Recommendations:

Long Trade:

* Entry: $8.338 (Support level)

* Target: $8.908 (Resistance level)

* Stop Loss: $7.065 (Support level)

* Leverage: 1:1 (Low leverage for risk management)

Short Trade:

* Entry: $8.908 (Resistance level)

* Target: $7.065 (Support level)

* Stop Loss: $9.359 (Resistance level)

* Leverage: 2:1 (Moderate leverage for potential higher returns)

Market Outlook:

The bearish pattern and recent price action suggest that DOT/USDT is likely to continue its downward trend in the short term. However, traders should monitor the market closely for any signs of reversal. ⚠️

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