DOT/ETH - Descending wedge pattern
Updated
Dot has always been one of my favorite projects, so I am a bit biased. Dot works to solve many of ethereum's problems, including long-term scaling and security solutions.
Dot/Eth has been caught in a descending wedge pattern for 6 months. Notice how the RSI indicator has retained support near 30 and has even formed higher highs. This is showing a positive divergence to the chart.
Assuming that the descending wedge pattern breaks to the upside, the initial target would be ~0.01Dot/Eth.
Dot/Eth has been caught in a descending wedge pattern for 6 months. Notice how the RSI indicator has retained support near 30 and has even formed higher highs. This is showing a positive divergence to the chart.
Assuming that the descending wedge pattern breaks to the upside, the initial target would be ~0.01Dot/Eth.
Note
it looks like a false breakdown may have occurred on the DOT/ETH pair. DOT is recovering quickly. If so, DOT could rocket higher in the coming months. Patience.
Note
Descending wedge has broke out on the daily. Lets see if it has legs.
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