DOT was at a key interest level for bulls. But BTC muted movement could delay a solid recovery for a while.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Liquidation data discouraged longs, but shorts suffered, too.
was at a significant discount and long-term support level for buying opportunities. But a corrective rebound remained elusive, which could unnerve impatient bulls.DOT traded at $4.43 at the time of writing. The level was an extension of its range formation since 18 August. However, the range formation coincided with a crucial long-term support and weekly bullish order block .The demand zone is a weekly bullish OB of $4.22 – $4.59 and doubled up as January and December lows.
But another August retest was yet to record a solid corrective rebound from the demand zone. A price consolidation has extended for over a week without signs of a price reversal. However, the CMF fluctuated above zero, underscoring weak but positive capital inflows. The RSI also attempted to retreat from the oversold zone, demonstrating mild buying pressure, yet sellers had overall control.surges above $26.8k and $27k. But the bulls must clear the $4.8 to gain an extra edge.
Conversely, a breach below the demand zone will expose DOT to possible depreciation to the $4.0 level.
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