Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionA price reversal could happen if demand increases at the crucial support zone.dropped after Bitcoin [BTC] broke below the $23.5K level. At press time, DOT was trading at $6.225, over 4% down in the past 24 hours. Similarly, BTC was closer to retesting or breaking below the $23K level.
But the drop hit a critical support zone of $6.013 – $6.200. The zone was a resistance level before it was flipped into the current support level. If demand for DOT increases at this level, DOT could witness a price inflection and reverse the losses from the sharp drop. The On Balance Volume increased steadily, showing an uptick in trading volume and buying pressure which could boost DOT’s potential uptrend momentum.
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