DOT/USDT: bullish trend resurgence signals buying opportunity

October 02, 2023 04:56 AM PDT | By Invezz

DOT/USDT: bullish trend resurgence signals buying opportunity — Image source: Invezz

DOT/USDT trading strategy

Buy/sell asset: Buy DOT/USDT
Entry price: 4.187
Stop loss: 4.058
Leverage: 3x
Take profit 1: 4.330
Take profit 2: 4.500
Take profit 3: 4.803
Timeframe: 1-2 weeks
Maximum profit: 44.13%
Maximum loss: 9.24%

DOT/USDT chart and technical analysis

DOT/USDT recently broke the 4.190 resistance level and closed above this level. The trend is turning bullish after the recent rally of the overall crypto market and will possibly remain bullish in the coming weeks.

Price will possibly make a pull-back after the recent rally and will retrace back to the 4.190 level which now will act as a major support level. The price is still in the resistance range and after the correction, it will able to break above the current 4.278 resistance area.

The overall crypto market seems to be recovering from the recent bearish winter and DOT/USDT will also go for new highs in the coming days and weeks.

Polkadot fundamental analysis

The recent surge in the price of Bitcoin and Ethereum wiped out $70 million in shorts which will possibly deter new shorts in the coming days.
The crypto market strongly reacted to the U.S. government avoiding the shutdown.

Fundamentally the market sentiments are bullish and most of the coins including DOT/USDT will continue the rally in the coming weeks.

Polkadot to Tether trade idea takeaways

DOT/USDT will possibly rally to 4.803 demand area as predicted.
The entry and stoploss prices have been set at secure levels after multiple confirmations.
Multiple take-profit levels have been added to secure profit along the way.
This trend continuation trade with an ROI of 4.78.
Good luck!

The post DOT/USDT: bullish trend resurgence signals buying opportunity appeared first on Invezz.

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