are looking to come back so soon. The cryptocurrency just concluded a 17% rally after bouncing back from October lows during the end-of-October rally.
A bit of a sell-off often follows a sizable upside and DOT’s downside in the last three days reflects this expectation. However, the downside pulled back to the 50-day moving average which often acts as a pivot point., another indicator that investors often use as a pivot zone. The convergence of these indicators, plus the announcement about the nomination pools contribute to more probability of a pivot. While the odds of a bullish takeover remain high, it is important to note that, at press time, the market was experiencing pre-FOMC jitters which may have affected DOT’s potential upside.Subscribe to get it daily in your inbox.