We can see based on the fib retracement from 27Nov to the local high last week we perfectly hit the -1 level before having a strong rejection. As DOT does not have much price history, we have to look at market cap and fib levels to extrapolate. As mcap is no 3, overtaking XRP, it is still far away from ETH and BTC. 12.62 and 11.43 (618 and 382) fib levels are possible areas of reaccumulation but the only concrete price history we have is the blue zone which is a daily strucutre and failed to break 4 times in early january before having a clean break 2 days ago. This area lies perfectly within the 0 and -0.236 zone which is an area of reaccumulation. However it is important to note we may not retrace back to this level (-25% from ath to -0.236 level) unless BTC experiences a strong retracement.
Comentarios:
Dot had a pretty rough day where we see it currently consolidating between the 0.786 and 0.618 extension levels. We did retrace tot he 0.618 level but not to the 0.382 level. As DOT has had a good run, I am not as optimistic for DOT to grow comparatively more to other large cap projects. That is not to say I don't think DOT can go up anymore, but we've went up 40% in a week and 150% in a month. I believe alternative higher cap projects like cardano will have further room to grow the coming few weeks