DOT has formed a nice broadening wedge at the 886 range from the last swing high to swing row and is now trying to establish/validate a new local higher low above $6.76 at the $7 range. The MACD and RSI has printed hidden bullish divergence on both oscillator's indicating that momentum is started to build back up to possibly break through the top of the wedge and have a nice run...We were due for a pullback after the last few weeks being manly green candles.. Overall, this is healthy price action and I don't think anyone should be panicking, as this is just traditional price action after a good few weeks for crypto...We also got some good news from the ETH merge.
Cheers
**DISCLAIMER, THIS IS NOT AN ACTIVE TRADE ATM, I AM JUST FOLLOWING THE STANDARDS OF TRADITIONAL TECHNICAL ANALYSIS. ANYTHING CAN HAPPEN**
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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.