RLinda ! DOTUSDT-> Potential for growth opens up

18 Okt 2022

DOTUSDT has been in a global downtrend for a long time, from the November 2021 high the price fell to 6.10, after which the price moves into a consolidation phase and begins to show signs of a possible further rise

On the global chart we see the price is trading below the 6.80 level which was formed in August 2020 and which is important for further upside. As we see, the level of 6.80 is the bottom line of a wide range (6.80 - 22.70) and if the price returns above 6.80 and keeps the position, the price can show a very strong growth to the resistance of 22.70 (about 230% of the movement)

On the local chart we can see the formation of the descending wedge, which stops at the level of 6.10, the price passes into the consolidation phase, within which it breaks through the key resistance.

I assume that with a lucky set of circumstances, the price can break through the resistance of 6.53 and reach the medium-term target of 7.72. Another target, which is important for the price is the resistance of 9.65.

Regards to R.Linda!