Univers Of Signals | DOT : a prominent Layer 1 and Web3 project

Let's quickly review Polkadot (DOT), a prominent Layer 1 and Web3 project, which currently has a market cap of $7.92 billion and is ranked 21st in coin market cap.

🔍 In the 4-hour timeframe, as observed, the price is contained within a range box between $4.478 and $5.303. Interestingly, DOT didn't show a significant reaction to the recent Bybit hack news and remains near the $5.303 area.

✅ This resistance closely aligns with the 0.5 Fibonacci level. If this area is breached, the subsequent price targets could be the 0.618 and 0.786 Fibonacci levels, with the next major resistance at $6.481.

🔽 For short positions, a very risky and scalpy trigger is at $4.981. I must emphasize the risk involved—this position should ideally be entered in much lower timeframes. The main trigger for a short would be at $4.478.

✨ In terms of the RSI oscillator, we have good triggers for confirming momentum; breaking below 50 could confirm bearish momentum, while breaking above 70 could confirm bullish momentum.