$DOT / USDT (Polkadot)
Current price around 1 point 1 to 1 point 3 USDT with weak structure and bearish sentiment in market �
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#Market trend
Overall trend still bearish on higher timeframe with majority indicators showing sell pressure �
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#Support zone
1 point 14 first support
1 point 10 strong support
1 point 05 major support zone �
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Resistance zone
1 point 21 first resistance
1 point 25 mid resistance
1 point 28 strong resistance �
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Indicators
#RSI around 33 showing weak to neutral momentum not oversold yet �
#Volume still low showing weak buying interest �
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CoinStats
Short term outlook
Market sideways to bearish
Break above 1 point 25 can give short rally
Failure likely retest lower support
Trade setup
Entry
1 point 10 to 1 point 16
Take Profit
TP1 1 point 22
TP2 1 point 28
TP3 1 point 35
Stop Loss
1 point 05
Alternative short setup
Entry
1 point 24 to 1 point 28 rejection
Take Profit
1 point 15
1 point 10
Stop Loss
1 point 32
Conclusion
DOT still weak coin in current cycle better for short term trading wait for strong breakout above 1 point 30 for trend reversal otherwise downside risk still active
