Analysis of pair ($DOT ) /USDT: Strong bearish trend
All timeframes show a clear bearish bias, with the price trading below the main exponential moving averages. The chart on the hourly timeframe shows a clear breakdown, with momentum accelerating. The Relative Strength Index (RSI) on the same timeframe has reached an oversold area at 36.21, indicating strong selling pressure. The current situation is suitable for entering a sell trade, especially if we see a rejection of the Relative Strength Index (RSI) at the 50 level on the 15-minute timeframe, targeting the next support levels.
Trading Setup (Sell):
Entry Point: 1.856444 – 1.866614
First Target: 1.83102
Second Target: 1.820851
Third Target: 1.800512
Stop Loss: 1.892038
DOTUSDT
Perp
1.817
-4.81%