🔥 $DOT solid bullish run, but it's kinda chilling and consolidating around these recent highs.
Price-wise, DOT's up over 10% in the last 24 hours, smashing through a bunch of key MAs. It's hovering right under that Resistance at 2.298, and the latest candle (is basically a doji with tiny volume (just 13K), like the market's undecided and waiting for the next cue. That initial surge had real volume behind it, so I think this upmove has legs.
On the volume side, those last few 1-hour candles had some serious action, like that one with 7.17M volume when it spiked up to 2.341. Now, during this sideways phase, volume's tapering off, which to me screams "just catching its breath after a big push" rather than sellers jumping ship.
Capital flows are a bit all over the place. Short-term stuff (5-min to 1-hour contracts) is showing some red, probably folks locking in profits. But zoom out to 4-hour (+747K) and 6-hour (+389K), and it's still green, meaning buyers are hanging in there. Spot flows? Eh, mixed short-term, but the 24-hour is down pretty hard at -979K, so spot traders might be getting a little jittery.
For entry longs $DOT : if you're feeling aggressive, jump in around 2.285-2.295 with a super tight stop. More conservative? Hold off for a dip back to that solid support around the 20-MA and Bollinger mid-band, say 2.257-2.260 – better setup for risk/reward. Or, wait for a clean break above Resistance (2.298) to confirm.
Stop loss: I'd place it at 2.215, right under Support level 2.216
Targets $DOT : First one at Resistance level (2.318), stretch to next resistance (2.339).
Anyone seeing something different in the charts