DOT is between a narrow range formed by the waves in the downward channel.
DOT bounced several times from the support of the narrow band. It’s now going upward to test $10.73, the upper edge of the downward channel.
The major resistance of the downward channel is at between $11.54-$12.00. Breakup and holding above it for 2 weeks will expand the consolidation range.
The current supports are short-termed and not strong enough. Only with more funds inflow could the breakout be confirmed.
If the key resistance of the triangle is broken, $9.94-$10 will flip into support.
DOT bounced several times from the support of the narrow band. It’s now going upward to test $10.73, the upper edge of the downward channel.
The major resistance of the downward channel is at between $11.54-$12.00. Breakup and holding above it for 2 weeks will expand the consolidation range.
The current supports are short-termed and not strong enough. Only with more funds inflow could the breakout be confirmed.
If the key resistance of the triangle is broken, $9.94-$10 will flip into support.
Note
SORRY FOR THE TYPO IN THE TITLE, IT'S DOT ANALYSIS.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.