DOT explodes 11% in 24 hours, that’s the next target

The price of DOT has risen significantly over the past day and this appears to be indicative of a bullish divergence.

Main support level: $ 23.

Key Resistance: $ 32.

The DOT briefly fell below $ 23 but has only risen since then. During the rebound, the RSI formed a significant bullish divergence from the December 20th low. This has resulted in bullish momentum for DOT, which is quickly approaching critical resistance at USD 32.

Source: TradingView

Technical indicators

Volume: This current surge is due to good volume, but nothing extraordinary from the past few weeks.

RSI: The daily RSI has created a clear bullish divergence, as indicated by the yellow arrows in the graph below. This is a signal to buyers that it is time to turn their attention to the DOT and the price is currently indicating this.

MACD: The daily MACD is away from the bullish crossover. This is good news for the bulls as DOT could see a sustained rally, at least until it encounters critical resistance at $ 32.

Source: TradingView

In summary, DOT is currently showing an upward trend and is clearly indicated by the above indicators.

Short term forecast for DOT. price

DOT currently has the advantage and the price is expected to hit the critical resistance of $ 32 soon. Of course, the overall market dynamics should be taken into account accordingly.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page