$DOT Update: Breakdown Continues, Deeply Oversold, Bulls Need Proof 🔻
Polkadot (DOTUSDT Perp) is trading around $0.7963, down -3.43% in the last 24 hours. The 24h range is $0.7782 to $0.8504, with volume of about $43.48M USDT.
Short-term view (1h chart):
• Price rejected from $0.8504, lost the $0.8064 support, and dropped sharply to $0.7782
• Supertrend has flipped bearish at $0.8300, acting as overhead resistance
• RSI(6) is at 19.3, deeply oversold, so a relief bounce is possible but not confirmed
• Resistance: $0.8064, then $0.8222 and $0.8300
• Support: $0.7905, then $0.7782 and $0.7745
Bigger picture:
• Today: -3.93%
• 7 Days: -13.67%
• 30 Days: -29.92%
• 90 Days: +3.36%
• 180 Days: -37.37%
• 1 Year: -71.81%
DOT has now fallen from around $1.04 two weeks ago to below $0.80, a steady and heavy downtrend. The latest big red candle shows strong selling pressure. Oversold RSI suggests the move is stretched, but until price reclaims the Supertrend line, bounces can be sold into.
📊 Trade Plan (Example Only):
Long (oversold bounce, aggressive):
• Entry: $0.7790 - $0.7900 (only after a green 1h candle confirms)
• Stop Loss: $0.7690
• TP1: $0.8064
• TP2: $0.8222
• Risk-Reward: approx. 1:2
Short (continuation play):
• Entry: Below $0.7770 with a 1h candle close
• Stop Loss: $0.7950
• TP1: $0.7600
• TP2: $0.7450
Invalidation: For longs, a 1h close below $0.7745 means the bounce has failed. For shorts, a strong 1h close above $0.8064 cancels the bearish view.
Oversold does not mean "buy now." After a sharp drop, bounces can be weak and fast. Wait for candle confirmation, keep position size small, and use low leverage on futures.
Do you see a relief bounce on DOT or another leg down? Share your view below! 👇
Not financial advice. Always DYOR. Futures trading carries high risk.
#dot #Polkadot #BinanceSquare #cryptotrading #TechnicalAnalysis $SHELL $BERA