๐ DOT has found support within the support zone marked by the 0.618 Fibonacci level and has broken out of a descending channel pattern, forming a W pattern supported by the 200 EMA. Additionally, the price is displaying a Break Of Structure(BOS), further increasing the likelihood of bullish momentum.
๐If the price manages to break above the first resistance area, we can anticipate further bullish movement towards subsequent resistance levels.
๐In the event of a pullback, we may see a bounce from the bullish order block (OB) levels.
๐However, if the price declines below the support level, it could signal a bearish movement for DOT. Nonetheless, given the current bullish sentiment in the overall market, it would be prudent to align with the prevailing trend.