On the 
DOTUSDT 1W chart, price has recently tested a long term support zone near 3.54. This area has previously acted as a strong demand zone, and the reaction from it could suggest that buyers are stepping in once again. The Ichimoku cloud (10, 20, 40, 10) shows ongoing bearish pressure, but the current structure may be forming a double bottom or accumulation pattern. A break above the mid range and a retest of the 5.50 area could serve as confirmation that the trend is shifting. If this scenario plays out, price may aim for the next resistance zone around 10.20. Until then, this setup remains in development and lower timeframes will be key to confirm early signs of strength.
Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
DOTUSDT 1W chart, price has recently tested a long term support zone near 3.54. This area has previously acted as a strong demand zone, and the reaction from it could suggest that buyers are stepping in once again. The Ichimoku cloud (10, 20, 40, 10) shows ongoing bearish pressure, but the current structure may be forming a double bottom or accumulation pattern. A break above the mid range and a retest of the 5.50 area could serve as confirmation that the trend is shifting. If this scenario plays out, price may aim for the next resistance zone around 10.20. Until then, this setup remains in development and lower timeframes will be key to confirm early signs of strength.Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
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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.
Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
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.