DOT: Recovery elusive after hitting key demand zone

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 68%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin shows short-term promise: Does this herald a recovery?As Bitcoin bounced from $25.6k to reach $26.4k, the Open Interest did not show a noticeable uptrend and indicated that bullish conviction was not present in the futures market.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Terra freezes website amid waning interest in native coin LUNAAs phishing scams target its users, Terra Blockchain froze its website on 22 August and warns users to not interact with any site using the terra(dot)money domain.
Source: CryptoAmb - 🏆 22. / 68 Read more »