Polkadot (DOTUSDT) Falls Fast! TP1 Hit, More Targets in Sight!

23 Okt 2024

Technical Analysis:

Polkadot (DOTUSDT) on the 15-minute timeframe entered a short trade with a clear rejection of the Risological Dotted Trendline, signaling strong bearish momentum.

Key Levels:

• Entry: 4.450
  
• Stop Loss (SL): 4.534
  
• Target 1 (TP1): 4.347 ✅
  
• Target 2 (TP2): 4.180 (In progress)
  
• Target 3 (TP3): 4.013
  
• Target 4 (TP4): 3.910
  

Observations:
Price respected the Risological Dotted Trendline as dynamic resistance, confirming the downtrend.
After hitting TP1, Polkadot remains in a solid downward trajectory, increasing the likelihood of hitting subsequent targets.
Volatility is providing momentum, which could lead to quicker completion of lower targets.

Polkadot's bearish move continues to unfold as TP1 is confirmed. Watch for the price to challenge TP2 and beyond as this short setup gains further momentum.

23 Okt 2024

Trade aktif

TP2 done