Altcoin Update: DOT DOT has shed some 40% over the past month | 𝗖𝗿𝘆𝗽𝘁𝗼 𝗭𝗘𝗧𝗔 ⚡️

Altcoin Update: DOT

DOT has shed some 40% over the past month and has been holding steady between the 38.2 and the 23.6 Fibonacci levels. And although it recovered some 33% from the May crash, its current price structure is constrained within a bearish pennant pattern. That means the downtrend may continue.

In the medium term, a reversal from the 38.2 Fibonacci may push DOT back to its 18-month lows of 6.5. But if the current market sentiment improves, a break above the 38.2 level could push DOT towards the 50-day MA.