DOT is trading within a tight range after bouncing off the psychological level of 40 earlier in the week. On Wednesday, the altcoin has been on a rebound for two consecutive sessions. Subsequently, it hit an intraday high of 45.53 on Thursday before pulling back. On a three-hour chart, it is trading above the 25 and 50-day exponential moving averages.
In the immediate term, I expect the crypto to trade within the horizontal channel of between Thursday’s high of 45.53 and along the 25-day EMA at 42.65. Above the channel’s upper border, the bulls will strive to retest the year’s high of 49.75. On the flip side, a move below the lower border will likely have the bears retesting the support zone of 40.00.
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In the immediate term, I expect the crypto to trade within the horizontal channel of between Thursday’s high of 45.53 and along the 25-day EMA at 42.65. Above the channel’s upper border, the bulls will strive to retest the year’s high of 49.75. On the flip side, a move below the lower border will likely have the bears retesting the support zone of 40.00.
Feel free to get in touch for premium trade signals
