) bounced off the $7.30 support on June 23, indicating that bulls are attempting to form a higher low. The price has reached the 20-day EMA , which is an important barrier for the bulls to overcome.The RSI has risen above 45 and the 20-day EMA is flattening out. This suggests that the bearish momentum could be weakening. If bulls push the price above the moving averages, the DOT/USDT pair could attempt a rally to the overhead resistance at $12.44.
This level may again act as a strong resistance and if the price turns down from it, the pair could remain stuck between $12.44 and $7.30 for a few days. The bears will have to sink the price below the $7.30 to $6.36 support zone to indicate the start of the next leg of the downtrend.The bears tried to pull the price below the 20-day EMA on June 22 but the bulls held their ground. Shiba Inu rebounded off the 20-day EMA on June 23 but the buyers could not push the price above the 50-day SMA .
Conversely, if the price turns down and plummets below the 20-day EMA, it will suggest that bears have gained the upper hand. The pair could then slide to $0.000008.
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