DOT / TetherUSLong
DOT on the brink of a major breakout
Hi all,
DOT is usually trading below the radars of the big cryptocurrency influencers although it is already proven to be superior with its all technical advancements and future implementation as outlined in the roadmap. But this is not a pro-Polkadot post, so I will keep it simple.
1. Long-term downtrend - broken.
2. 21-EMA - flipped
3. $6-$6.2 horizontal resistance - broken.
What is next is the $7 mark, which is where the next major multi-timeframe resistance and former support area is situated. Additionally, it is the last high the token made on the weekly timeframe, which makes it important for the mid-term bullish reversal scenario. Lastly, that level was when DOT was initially halted back in 2020 triggering a 40 percent correction, so it is a sensitive one with a lot of trading activity around it.
I'm pretty convinced a clean breakout here will result in a major push towards the $9-$10 zone.
Let me know what you think in the comments
Regards
DOT is usually trading below the radars of the big cryptocurrency influencers although it is already proven to be superior with its all technical advancements and future implementation as outlined in the roadmap. But this is not a pro-Polkadot post, so I will keep it simple.
1. Long-term downtrend - broken.
2. 21-EMA - flipped
3. $6-$6.2 horizontal resistance - broken.
What is next is the $7 mark, which is where the next major multi-timeframe resistance and former support area is situated. Additionally, it is the last high the token made on the weekly timeframe, which makes it important for the mid-term bullish reversal scenario. Lastly, that level was when DOT was initially halted back in 2020 triggering a 40 percent correction, so it is a sensitive one with a lot of trading activity around it.
I'm pretty convinced a clean breakout here will result in a major push towards the $9-$10 zone.
Let me know what you think in the comments
Regards
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