Pea
encountered substantial sales pressure, lowering up to 5% before bouncing and potentially forming a double -bottomed model that points to a continuous rise, according to the Coindek Research technical analysis model.
After initially attempted to establish an upward trend with a peak at $ 3.787, Dot encountered strong resistance and formed a downward inversion diagram, according to the model.
During recent negotiations, the DOT was down 2.6% over 24 hours, exchanging about $ 3.63 after finding support at $ 3.59. The wider market gauge, the Coindesk 20, fell 0.5% at the time of publication.
Prices’ action shows a double -bottom potential pattern forming with the improvement of the momentum, suggesting more upward if it maintains the higher support at the price level of $ 3.62, showed the model.
Technical analysis:
- DOT experienced a 24 -hour volatile period with a substantial beach of 0.193 (5.1%), initially trying to establish an upward trend with an $ 3.787 peak before meeting strong resistance.
- The price action has formed a downward reversal model because the dowry failed to maintain above the level of $ 3.75, followed by an accelerated sale at a high volume during the 10:00 and 1:00 p.m. when the volume increased to almost 4 million units-well above the average of 24 hours.
- The support emerged at $ 3.594, although the current price structure suggests a risk of additional decline, the dowry closed near session with indicators of momentum of weakening.
- During the last hour, Dot experienced significant volatility with a sharp drop of $ 3.643 to a minimum of $ 3.594, followed by a recovery attempt.
- The price found solid support in $ 3.594, triggering a V -shaped recovery which increased the dowry by 1.3% to $ 3.642.
- The recent price action constitutes a potential double-bottom model with the improvement of the momentum, suggesting the possibility of continuing the movement upward if dowry can maintain support above $ 3.62.
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