The past week has been painful for DOT as it took another downturn after witnessing a short recovery. It resumed drops and recorded a total loss of 13% in a week, although it is looking calm at the moment.
DOT’s performance has been poor over the past months due to a bearish crossover into the new year. Luckily, it found a solid ground in March and recovered, but the bears countered the move in the late month and pulled the price lower.
That led to a bearish start this month and the price declined, although the current low is still standing well. It recently found a layby and currently sits above $3.8. This price level may hold as support if the bulls defend well. Otherwise, we may see an extension in the existing bearish trend.
Looking at the overall market structure on the micro-level, it appears to have reached an extremely oversold condition after losing over half of its value in over 90 days. As we can see,…
