Well, we begin our first DOT cryptocurrency forecast, which was voted for by the majority of WhiteBit cryptocurrency users. A new vote will be created every Monday in the Whitebit telegram. So vote for the cryptocurrency, the forecast of which you would be interested to read.
DOT cryptocurrency has found its local bottom near $10. This does not mean that the prospect of continuing to fall in the price of PolkaDOT has expired. However, there is a possibility of the beginning of the upward correction of the fall wave from April 2022. After the trading week of May 9, volatility in the DOT market decreased. Sellers were unable to update the previous local low. Looking at the volume of trades, it seems that sellers are exhausted and end their wave of decline. While the $10 range is under the control of buyers, the probability of a PolkaDOT price rebound to $16 is the highest. At the moment, this is our main scenario. However, how not to miss the trading situation and buy DOT wisely? To do this, let’s move on to the daily timeframe.
DOT cryptocurrency – purchase area $8.7-9.3
Looking at the daily timeframe of the DOTUSDT price movement, there are several options for price movement. However, it is important to understand that all these options come down to one thing – to re-test the range of $ 8.7-9.3. It is in this range that buyers actively slowed down panic sales during May 11-12. The DOT price may test the $ 8.7-9.3 range from current prices by slightly updating the local minimum. A may first test the $ 12 mark and then test the strength of buyers. In any case, you can only buy low-risk DOTs in the $8.7-9.3 range. We recommend placing three warrants for sale: $11.8 $14 and $ 16. Given the fact that the fall wave from April 2022 is still unfinished – it is necessary to plan counter-trend positions modestly.
DOT cryptocurrency – medium-term trade
Entry – $8.7-9.3
Stop – $7.76
TP1 – $11.8
TP2 – $14
TP3 – $16