Analysis of DOT Price:
DOT lost momentum on Thursday, dropping over 5% to settle at $4.35. Selling pressure escalated on Friday with a decline of nearly 7%, breaching the 50-day SMA to settle at $4.05 (after touching a low of $4.01). It found support at this level and recovered over the holiday to $4.08 by Sunday. Buyers took control on Monday with a 2% rise to $4.15, but DOT fell again on Tuesday (down 0.24% to $4.14). In the current session, the price has been fluctuating around $4.15 with a slight increase.
Summary:
- Sharp Downtrend: DOT fell over 8% on Friday, then continued to oscillate under severe selling pressure.
- Breaching Critical Levels: It fell below the 20-day moving average ($4.56) and then the 50-day moving average ($4.05) with a weekly low of $4.01.
- Limited Recovery: It slightly rose on Tuesday ($4.53) and Wednesday ($4.58), but quickly lost those gains.
- Slight Stability: After recovering from the low of $4.01, it stabilized around $4.15 with minor fluctuations at the end of the period.
- Seller Dominance: Sellers dominated most of the period despite intermittent recovery attempts.
Conclusion: DOT faces strong resistance below the $4.50 level, needing a buying push to overcome the ongoing selling pressure.#TradingCommunity
