Polkadot Reborn 💥💪🦾
As always, I’ve kept the chart simple and straightforward, so there’s no need for lengthy explanations:
- Bubbles: Red represents resistance, and green indicates support.
- Trends: Clearly marked with blue lines.
- Historical Resistance: Illustrated with violin lines.
Key Notes:
- As I’ve explained before, resistances often flip into supports over time, so in this graphic, i turned red older bubbles to green bubbles. simple as that..
- Like many altcoins, Polkadot (DOT) has broken out and is now showing bullish momentum.
Important Considerations:
- Keep in mind that most altcoins are heavily influenced by BTC, BTC Dominance (BTC.D), and USDT Dominance (USDT.D). To trade effectively, you need to monitor these factors simultaneously.
------------------------------------------------------------------
DOT Support and Resistance Levels:
------------------------------------------------------------------
Support 1: $9.50 (current level)
Support 2: $7.50
Support 3: $5.80
Resistance 1: $23.20
Resistance 2: Approximately $50 (previous 2021 ATH).
------------------------------------------------------------------
Potential Targets for the Next Bull Run:
- The potential incoming alt run targets are aligned with the trend and marked by grey dotted lines, calculated using Fibonacci.
Remember, this is just the beginning, not the end, don’t be fooled.
Happy Tr4Ding !
