Price surged nearly 19% in a week—jumping straight from 0.95 to 1.08. Network activity spiked by 150%, and the whales accounting for the top 0.1% on Binance are 73.7% long. The DAO has just proposed a native stablecoin, dotUSD: it plans to seed an initial liquidity pool with 1.5 million USDT and 1.5 million DOT. The supply cap of 150 million DOT is also set to be reduced according to schedule.
But the issue is that after the price is pushed up, there’s no volume to back it. MACD momentum has already been exhausted, and the Bollinger upper band at 0.98 is stuck there. The 200-day moving average at 1.11 is exerting even stronger resistance. Moreover, Grayscale previously abandoned its DOT ETF plan, and open interest has fallen 11% over the past 24 hours—suggesting this move isn’t driven by fresh capital entering. It looks more like distribution. At this level, the risk is greater than the opportunity.
$DOT - - Empty
Enter the trade from below 👇
But the issue is that after the price is pushed up, there’s no volume to back it. MACD momentum has already been exhausted, and the Bollinger upper band at 0.98 is stuck there. The 200-day moving average at 1.11 is exerting even stronger resistance. Moreover, Grayscale previously abandoned its DOT ETF plan, and open interest has fallen 11% over the past 24 hours—suggesting this move isn’t driven by fresh capital entering. It looks more like distribution. At this level, the risk is greater than the opportunity.
$DOT - - Empty
Enter the trade from below 👇
