Futures
Hundreds of contracts settled in USDT or BTC
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
DOT's recent decline indeed illustrates the current situation well. From the 1-hour K-line chart, the price surged to 2.143 before starting to weaken, and now it has fallen to 2.070, breaking through the support levels of MA5, MA10, and MA20 moving averages consecutively. This situation is not very optimistic—RSI is only at 41.625, indicating a neutral to weak zone, and the green bars on the MACD have appeared, with DIF and DEA close to -0.010, suggesting that the upward momentum is almost exhausted.
From the market performance, the buying strength of the bulls is clearly insufficient. The rapid decline in price combined with volume suggests possible signs of main force distribution. The current trading strategy is: take 2.070 as the short entry point, with a stop-loss set safely above the previous high of 2.143. Regarding targets, the first level is 2.047 (the lowest point in the past 24 hours). If this level is broken, the next target is the 2.000 integer level.
Trend traders can hold their short positions confidently. For short-term trading, it is recommended to take profits gradually at support levels because once the breakdown pattern is confirmed, the main force is likely to accelerate selling to break through those key supports.