A significant event has occurred in the Polkadot $DOT market: a $52,000 short position was liquidated at $7.106. This suggests that traders betting on a price drop were forced to exit their positions, potentially indicating upward price pressure.
Support and Resistance Levels:
Support: The nearest support zones are at $5.00 and $4.00.
Resistance: The nearest resistance zones are at $6.00 and $6.50.
Recommendation:$DOT
Given that the current price is above the identified resistance levels, this breakout may signal a bullish trend. However, it's essential to monitor the price action closely.
Buy: If the price sustains above the $6.50 resistance level, it could indicate continued upward momentum, making it a potential buying opportunity.
Sell: If the price falls below the $6.00 support level, it may suggest a bearish reversal, in which case selling could be considered.
Caution: Cryptocurrency markets are highly volatile. It's crucial to conduct thorough research and consider your risk tolerance before making any trading decisions.
#BTCNextMove #USUALAnalysis #USJoblessClaimsFall #GrayscaleSUITrust
