DOT Technical Analysis: Back At $10, DOT Holders Get Nervous

DOT prices crossed the $10 barrier last week but struggle to sustain and retest the breakout. Is it a retest or a bullish failure ready to break below $10? Key technical points: DOT prices fell 45% in the 30 days. MACD and signal lines merge in the negative territory. The 24-hour trading volume of Polkadot is $841 Million, indicating a 3.77% surplus. Past Performance of DOT The falling channel in the DOT prices showcases a correction phase driving the overbought prices under the market value. Starting from the top of the falling channel at $22.85, the downtrend breached the $10 barrier but currently resurfaces above it. Source-Tradingview DOT Technical Analysis DOT prices showcase a flattish trend with growing bearish influence above the psychological barrier of $10. However, the falling trend in volume reflects the liquidation of high-leverage positions and brings stability to the price trend. This keeps a neutral motive till the actual price develops. The falling trend in the crucial 50, 100, and 200 EMAs continues in a bearish manner due to the recent loss of an upward-looking crossover. The 50-day EMA returns to the 100-day ESMA and the beginning of a falling channel. The downtrend in the RSI slope (blue line) shifts into neutral gear below the halfway line after crossing above the 14-day SMA. As for the MACD indicator, the gradual reversal in the fast line merges with the signal line in the negative territory. Hence, the ...