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Descending Triangle Forms on DOT/USDT Weekly Chart -Breaking

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© Reuters. On the DOT/USDT Weekly chart, Descending Triangle forms
  • The current price for DOT has dropped 2.07% over the last 24 hour and 15.56% within the last seven days.
  • The 24 hour trading volume of DOT has risen 6.09% with $650.995,037 trading volume the previous day.
  • On the weekly chart DOT/USDT, a descending triangle appears to be beginning to form. This could indicate that the price is going down.

CoinMarketCap reports that the price of (DOT®) was $15.12 at time of writing. According to CoinMarketCap, the current price for DOT is $15.12. This has fallen 2.07% over the past 24 hours and 15.56% over the last seven days. DOT’s price has also weakened against (BTC) and (ETH). The chart shows that 1 DOT equals 0.0003933 BTC, and 0.005329 ETC.

The current market cap for DOT is $14,924,962,409, ranking it number #14 on CoinMarketCap’s list of biggest crypto market caps. DOT’s 24-hour trading volume has increased by 6.09% over the past 24 hours, with $650,000,000037 in trading volume the previous day.

The bearish trend in DOT may persist (Source: tradingview)

On the weekly chart DOT/USDT, a descending triangle appears to be forming. This could indicate that the price for DOT will continue falling. Another indication that the price might fall is the bearish cycle that DOT entered looking at the weekly charts as the 15 EMA crosses below the 50 EMA.

The Relative Strength Index 14 (RSI 14) for DOT is currently at 39.62 on the weekly charts and has fallen below the 14 SMA. This indicates that DOT could be in oversold territory.

If the price of DOT breaks above $15, it could be a confirmation that DOT has made a bearish move. As you can see, the $15 mark is key resistance for DOT/USDT. The price of DOLTA could drop as high as $11 to $12 if it breaks through the triangle.

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