Dolomite ($DOLO )
is a real DeFi lending protocol with $3.18M quarterly revenue and genuine on chain fundamentals. But fundamentals don't protect a chart that's printing rejection at a major resistance zone.
What the chart is telling us right now:
Price is sitting exactly at the purple resistance block $0.02519–$0.02526 which has been a structural ceiling since early September. The red zone above ($0.02526 – $0.02592 is the supply block where sellers previously overwhelmed buyers and triggered the entire dump down to $0.02300. Price has now returned to that exact origin point.
This is a textbook re-test of a broken support, now flipped resistance. The reaction here decides everything.
The short setup📉
Entry zone: $0.02519–$0.02526 current price, right inside resistance 👇
Stop Loss: $0.02600 ⛔
Target 1: $0.02452
Target 2: $0.02399
Condition for entry: Do not short blindly. Wait for a rejection candle. A bearish engulfing or upper wick rejection closing back below $0.02519. That candle is your confirmation.
Invalidation: If $DOLO closes a 4H candle above $0.02600 with volume, the short thesis is dead. Bulls reclaim the supply block and next target becomes $0.02700+.
This is structure-based trading. Not a guess a level, a trigger, a stop, and a target. That's the only way to play it. DYOR 🔥
#DOLO #CryptoTrading. #ChainlinkPowersBottomlinePaymentPlatform #RiskManagement
is a real DeFi lending protocol with $3.18M quarterly revenue and genuine on chain fundamentals. But fundamentals don't protect a chart that's printing rejection at a major resistance zone.
What the chart is telling us right now:
Price is sitting exactly at the purple resistance block $0.02519–$0.02526 which has been a structural ceiling since early September. The red zone above ($0.02526 – $0.02592 is the supply block where sellers previously overwhelmed buyers and triggered the entire dump down to $0.02300. Price has now returned to that exact origin point.
This is a textbook re-test of a broken support, now flipped resistance. The reaction here decides everything.
The short setup📉
Entry zone: $0.02519–$0.02526 current price, right inside resistance 👇
Stop Loss: $0.02600 ⛔
Target 1: $0.02452
Target 2: $0.02399
Condition for entry: Do not short blindly. Wait for a rejection candle. A bearish engulfing or upper wick rejection closing back below $0.02519. That candle is your confirmation.
Invalidation: If $DOLO closes a 4H candle above $0.02600 with volume, the short thesis is dead. Bulls reclaim the supply block and next target becomes $0.02700+.
This is structure-based trading. Not a guess a level, a trigger, a stop, and a target. That's the only way to play it. DYOR 🔥
#DOLO #CryptoTrading. #ChainlinkPowersBottomlinePaymentPlatform #RiskManagement
