- DOT token price is consolidating just above the support level of 12.5, projecting that the bulls have not given up yet.
- The recent death cross may soon be followed by a bearish crossover of 100 and 200-day EMA.
- The pair of DOT/BTC trades at 0.004185 BTC with an intraday fall of -5.65%.
The DOT Token’s price is below the 20-day EMA, but it remains close to $12.5. The resistance of the 20-day EMA and the 50-day EMA is trying to push the price lower than the support level.
The resistance of the 20-day EMA represents a high supply area, which has prompted many bullish attempts to increase the DOT token prices.
Sloping EMAs signify bearishness. A bearish crossover between the 100-day EMA and 200-day EMA could lead to a bearish breakout at the support level.
The current price of the DOT token is $13.51. There has been an intraday drop in market capital by -8.44%. However, due to increased selling, the intraday trading volume also increased by 14.87%.
EMAs Siding With Bears Push The DOT Token Price Lower
The DOT tokens are moving lower and have already reached the support level for the downtrend. The bearish EMAs could push the price below $12.5.
The pivot point standard suggests that the coin price could support the $12.50 mark and the $9.58 mark. If the bearish trend reverses, opposition at the $19 mark could push the price up.
The 4-hour technical charts show that the coin price trades below the critical EMAs according to the 4-hour technical charts. Recent bearish crossovers have also caused bearishness. All the essential EMAs are also moving lower in a bearish direction.
The RSI indicator is bearish and indicates a gradual increase in the underlying bearishness. In addition, the RSI indicator shows a slight downward slope as it moves lower.
The ADX indicator indicates a sideways trend.
Conclusion: DOT Token is currently in a bearish trend. It could soon fall below the support level at 12.5. Investors should not make speculation-based bullish entries. They may experience a bearish breakout of 30%-40%.
Support: $12.50 and $9.58
Resistance-$19
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