On the 4-hour chart, DOT/USDT has shown a clear bullish rejection from its significant horizontal support zone around $3.80 - $3.85. This strong bounce indicates robust buying interest at this critical level, signaling a potential reversal and a buying opportunity. The price action here underscores the validity of this support, suggesting diminishing selling pressure.
While a descending trendline remains overhead as dynamic resistance, the current rebound sets the stage for a potential challenge to this overhead barrier. A confirmed break above this trendline would further strengthen the bullish outlook. Traders may consider long positions with a prudent stop-loss placed below the $3.80 support to manage risk effectively.
While a descending trendline remains overhead as dynamic resistance, the current rebound sets the stage for a potential challenge to this overhead barrier. A confirmed break above this trendline would further strengthen the bullish outlook. Traders may consider long positions with a prudent stop-loss placed below the $3.80 support to manage risk effectively.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.