Dot rebound and won 4% after losing 3.67% to $ 3,464, where it found strong support, according to Coindesk Research’s technical analysis model. The move higher was on a strong volume, the model showed.
A bullish reversing pattern has formed with consecutive higher low lower ones since the bottom, which suggests further potentially the upside, according to the model.
In the latest trade DOT was 0.5% lower over 24 hours of about $ 3.57. The wider market meter, Coindesk 20, was 1.2% higher at the time of announcement.
Technical Analysis:
- DOT experienced a correction of 3.67% from $ 3,596 to $ 3,464 before he found strong support.
- Volume exceeded 2.5 m units of $ 3.47 support level, significantly above the 24-hour average.
- A Bullish Reversing Pattern formed with consecutive higher low lower ones since the bottom.
- V-shaped recovery pattern emerged from 11:43, with volume increasing to over 34,000 units over 11:45 time frame.
- The price broke through several resistance levels and reached a highlight of $ 3,559 at. 12:09.
- Potential continuation of upward momentum if the $ 3.57 resistance can be cleared.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by Coindesk’s editorial team for accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
