Polkadot DOT’s $8.442 Standoff: Bounce or Breakdown?

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DOT is hovering around a key support zone, at $8.442.

1. A quick dip and bounce back from $8.442 might hint that the bulls aren’t ready to give up just yet (Dashed Green Projection).

2. If DOT confidently pushes through $9.659, the bulls might have a party, with the next pit stop likely around $11.009. A clean move here could set the stage for some exciting action to the upside (Solid Green Projection).

3. However, if the $8.442 level crumbles, things could get dicey fast. Bears might take over, dragging the price toward $7.000, a critical support level where DOT could try to catch its breath (Red Projection).

Right now, DOT is at a tipping point—will it rise to the occasion or falter? Keep your focus on $9.659 and $8.442; they’re calling the shots for what comes next.

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ملاحظة

Polkadot could push a bit lower (but not necessary), before bulls will have another attempt to recover and push price towards $9.659. An inability to sustain price action above $8.442 will lead to more bearishness (Red Projection).

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ملاحظة

Bears are gaining control on the 4-hour chart. Sustained price action below $8.442 could trigger Scenario 3 (red projections) and likely lead to a drop toward the $7 zone.

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أغلقت الصفقة: تم الوصول للهدف

The bearish Scenario 3 (red projection) played out as anticipated, bringing DOT down to the critical support level of $7.00. A bullish reversal from this zone is highly probable. Keep an eye on the price action for signs of a potential rebound.