- Dot token price has increased 25% within 24 hours, making a round bottom structure inside the symmetrical triangle.
- The coin price is trading beneath all the significant EMAs in the daily technical chart.
- The DOT/ETH pair trades at 0.009323 ETH with an intraday gain of +8.80%.
DOT token price has been resonating inside the triangles for weeks now. The coin price was recently bounced back from the support line of the symmetrical triangle in the 4-hour technical chart. The price action made a rounding bottom structure, implying a sprint to the correction line.
The crypto asset struggles to rise above the 100 EMA after crossing 20 and 50 EMA in the 4-hour picture. The coin has decent volume pressure associated with the price jump. The DOT price trades at $23.56 with an intraday growth of 10.88% in the market cap, positioning the coin at 9th rank in the crypto-verse.
DOT Token Below All The Significant Daily EMAs
DOT Token price action makes another triangle, an ascending one, in the daily technical chart. The coin price is advancing higher inside the pattern with a boost of buying volume. The price action has helped recover 15% of the fall after the rejection from the $48 level.
The technical chart of DOT Token provides a support level at $18 and $8 according to price action and resistance level at $29 and $40. Investors could see a breakout soon of the triangles mentioned. However, the retest of the pattern fruition will be a much more profitable entry point.
The coin price trades below all the critical EMAs in the daily timeframe and a bearish crossover of the 50 and 100 EMA might influence the price into another fallback.
The RSI (bullish) indicates bullish momentum while trading at 54. After a boost in slope, RSI dips a bit but still heads towards the oversold zone.
The ADX indicates a loss in momentum as the ADX line is dipped, implying a loss of momentum in the short-term uptrend.
Conclusion – DOT coin price struggles within two triangles and fails to rise above the EMAs, implying an underlying bearish sentiment. The breakout of these patterns might occur soon. Investors must wait till then before entering on speculation.
Support- $18 and $8
Resistance- $29 and $40