dropped to the $27k price range. DOT dropped from the $7 psychological level in April and hit the March low of $5.1 on 8 May – over 25% loss.At press time, DOT traded at $5.386, lower than the daily session close on 8 May but higher than the lowest $5.170 on the same day.
Technical indicators didn’t show a reversal at press time. However, the Relative Strength Index was near the oversold zone with a flat movement. It showed selling pressure increased but eased slightly at press time – will seller exhaustion give room for bulls? If that’s the case, buying above bullish OB at $5.386, targeting $6.05, could offer a good risk ratio. Overly ambitious targets can be placed at $6.6 and $7.
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