DOT Could Break to $10 if It Closes Today Above $6.595Over the last day, BINANCE:DOTUSDT faced rejection at the $7.425 resistance level, leading to a decline below the $6.595 support level earlier in today's session. However, a subsequent rally pushed its price back above $6.595. If DOT manages to end today's session above this crucial level, it might aim to retest the $7.425 resistance in the next 24-48 hours. Surpassing this level could open the way for the cryptocurrency to potentially surge towards $10 in the ensuing days.
Conversely, if DOT closes today below $7.425, it could negate the optimistic outlook. In this less favorable scenario, DOT might revisit the $6.595 support level. A drop below this point could set the stage for a further decline to $5.975 in the near term.
The daily chart's technical indicators, including the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), hint at a possible continued downturn in the next 24 hours. The RSI is on the verge of falling below its Simple Moving Average (SMA), a potential sign of a bearish momentum shift. Additionally, the MACD line's flattening suggests that DOT's upward momentum might be losing steam.
