- Dot token jumps 35% after finding demand near the support trendline.
- Currently, the coin is trading above 50 EMA in the daily timeframe above the 200 EMA, implying the uptrend is intact.
- The DOT/BTC pair is trading at 0.0009668 BTC, with an intraday growth of 13.62%
DOT token price fell 15% in value before finding demand near the support trendline. The token price made an excellent bullish candlestick with a long tail and large green body in the weekly timeframe, indicating a bull run in upcoming weeks. The increasing momentum with rising buying volume brings hope for investors with the bullish sentiment. The live DOT token price today is $47.66, with a 24-hour trading volume of $7,694,490,526. It is up 12.07% in the last 24 hours. With a live market cap of $44,714,154,944, the coin ranks at #8.
Bullish candlestick beats the bears down.
DOT token price has been consolidating inside a range between $29.8 and $46 in the daily timeframe before the breakout of this range with a boost in buying volume. The DOT coin price formed a very bullish engulfing candlestick in the weekly timeframe. The coin price might hit the $60 mark if the bulls keep this trend going. A short retest of this breakout is possible. The coin price has increased 5.27% in the last 24 hours. The $45 and $37 are the immediate support, whereas the resistance levels are $57 and $62.
The coin price is trading above the 100 EMA (green) and just above the 50 EMA (yellow). The 50 EMA is above the 200 EMA in the 4-hour timeframe, implying that the bulls control the trend.
The RSI (bearish) indicates bearish momentum while trading at 66. After an increasing slope, a short dip has resulted in the RSI heading lower from the overbought zone.
The ADX indicates a gain in momentum as it trades at 21.6 while the spike in ADX is rising higher.
Conclusion – DOT token price has recently exhibited a breakout of the resistance level $45 suggesting the start of an uptrend. A short-term pullback to give a retest is possible in a smaller timeframe. However, a failure in retest might drive down the price back to the immediate support level.
Support- $45 and $37
Resistance- $45 & $65
Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.