DOT Has Potential To Rebound For Current Position Into A Rally

2022.07.13 20:31

DOT Has Potential To Rebound For Current Position Into A Rally

• Polkadot (DOT) is continuing its downward movement below the four-month trendline.
• In order for DOT to really see a comeback, the crypto will have to topple the 20 EMA.
• Should the current candlestick close above the immediate support, it could also serve as a confirmation that DOT could see a rally.

Polkadot (DOT) is continuing its downward movement below the four-month trendline. The current price of DOT has found its place in the $6.45 zone. If the price of the crypto can rebound from this support, it could lead to some sort of revival.

Recent liquidations led to DOT dropping to its 17-month low on June 13. After this, there was a bit of an increase in buying pressure. Ultimately, however, the 20 EMA was able to control the buying rallies. In order for DOT to really see a comeback, the crypto will have to topple the 20 EMA.

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