- The price has recently moved below the middle band, indicating short-term weakness. The lower Bollinger Band is acting as potential support near $4.60.
- The break below the middle Bollinger Band suggests a shift in momentum, potentially signaling the start of a downtrend on this timeframe.
- Volume is relatively low during the latest pullback, which could suggest the move lower is not backed by strong selling pressure. However, if the volume picks up on further declines, it may indicate stronger downside potential.
- Support: The lower Bollinger Band around $4.60 is an immediate support level. If this level is broken, the next potential support is around $4.40 (seen from previous price action).
- Resistance: The price faces resistance near the upper Bollinger Band at around $4.85-$4.90.
- A bounce off the lower Bollinger Band around $4.60 could provide a buying opportunity if confirmed by an increase in buying volume.
- A break below the lower band could signal further downside, with the next support around $4.40.
- The price of DOTUSD is currently undergoing a short-term pullback after a notable uptrend. A key level to watch is the lower Bollinger Band around $4.60, which could act as support. If broken, more downside can be expected. Conversely, a bounce could indicate a resumption of the uptrend. Volume will be crucial in confirming either scenario.
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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.
➀➁➂➃➄
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.