Exploring Altcoins TRX and DOT — July 13, 2023

Tron maintains the local uptrend that commenced on June 10. Currently, the asset's price fluctuates between the support zone of $0.0740-$0.0760 and the resistance zone of $0.0793-$0.0816. If the surge persists, TRX could strive for the annual high of $0.0856 and potentially approach the $0.0900 target.

Still, a brief price decline or correction is not out of the question. Buy orders beneath the present zone can be found at $0.072, $0.070, and across the broad range of $0.064-$0.069. The bullish scenario remains the primary focus as long as TRX's price stays above the $0.065 mark.

Although Polkadot (DOT) experienced a temporary rally, the coin remains largely caught in a pronounced downward trend. The current resistance zone can be found between $5.36 and $5.63, with further buy orders seen at the $5.84 mark.

The most substantial support currently lies at the psychological level of $5.00. If this marker fails to bolster the price, we can anticipate the next wave of buyer response within the $4.75-$4.89 zone, at the $4.53 point, and within the broader band of $4.20-$4.38.

A large-scale DOT coin unlock is scheduled for October 2023. These coins were originally purchased by users for participation in parachain auctions. If most of these coins are sold, the asset's price could take a considerable hit. This potential event warrants careful consideration when planning long positions on Polkadot.

The market situation for BTC remains unchanged from yesterday's analysis.

Check out Gagarin News for the latest cryptocurrency rates and chart analysis.

Please note that the analysis provided above should not be considered a trading recommendation. These are solely the opinions of the Gagarin News editorial board regarding the market situation. Before opening any deals, we strongly advise conducting your own research and analysis.

TF (Timeframe) — a chronological period equal to the time it takes to form one Japanese candle on the chart.

Horizontal channel (flat, sideways, range) — the movement of price between support and resistance levels, without going beyond the given range.

К — simplified designation of one thousand dollars of the asset price (for example, 23.4K - $23,400).

Gray range on the chart — a support zone.

Red range on the chart — a resistance zone.

Correlation — the tendency of prices of different cryptocurrencies to move in sync, often influenced by the dominance of one of the assets.

This analysis was informed by the following educational materials and articles from Gagarin News: