DOT Price Prediction: Face Upside Risk Of 22% From Current Levels; Is Time To Buy?

DOT price edges greater with vital positive factors on Saturday. The value opened greater and recovered rapidly to check the session’s excessive at $18.69. Nevertheless, buying and selling quantity is supportive of the present value motion with greater than 10% positive factors.

• DOT value extends the earlier session positive factors on Saturday.
• Extra positive factors if provides closes above 50-day EMA at $19.42.
• The value may shoot towards the final word goal of $22.0.

As of press time, DOT/USD is buying and selling at $18.58, with 4.85% for the day.

DOT continues to maneuver north

On the each day chart, DOT value is making greater highs after witnessing file lows of $14.06. The value surged 45% to the swing highs of $19.57, and retrace to the latest lows round $16.01.

DOT value should face and be pierced above the 50-day EMA (Exponential Shifting Common) at $19.32 to fulfill the primary upside goal of the psychological degree at $20.0.

Traders ought to sustain the shopping for momentum to gas the upside rally. Subsequent, the market contributors will revisit the highs made on $23.21 on February 8 at $23.21.

Alternatively, if the value slips beneath the session’s degree with a spike in promote order then sellers will gather the liquidity close to lows of March 7 at $16.01.

DOT is in a steady downtrend since made file highs in December and depreciates practically 65% in February. Traders ought to flip the essential $18.50 degree to maintain the upside momentum.

Technical Indicators:

RSI: The each day relative energy index crossed above the common line since February 24 and continued to maneuver greater. At the moment, it reads at 51 with a optimistic bias.

MACD: The Shifting Common Convergence Divergence hovers beneath the midline however with a bullish tilt. Extra shopping for alternatives will happen if cross above the central line.