DOT/USDT Price Update in Daily Timeframe

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Now, let’s dive into this chart analysis:

#DOTUSDT is currently trading within a well-defined descending triangle pattern with strong support around the $5.5-$6 range.

~ Support Zone: A strong support zone exists between $5.5 and $6, highlighted in green. This area has historically acted as a significant support level, preventing further downward movement.
~ Resistance Levels: The primary resistance levels to watch are $7.6 and the major resistance at $11.58, which aligns with the peak levels from early 2024.
~ Relative Strength Index (RSI): The RSI indicator at the bottom of the chart shows a bullish divergence, with the RSI making higher lows while the price makes lower lows. This divergence often precedes a potential bullish reversal.

If DOT/USDT breaks above the descending triangle, the 100EMA, and the primary resistance levels, the measured move target from the breakout point suggests a potential rally up to approximately $12.

The invalidation point will be a breakdown and close below the $5.5 support level.

DYOR. NFA.

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