DOT seems to be settling around the $5.99 support level, but will likely dip if/when BTC drops further. Here's an updated chart with the other major support areas marked.
In case you're not familiar, CMF is Chaikin Money Flow - a useful indicator for determining breakouts and relative amount accumulation vs. distribution.
As you can see from the chart, the price action above $5.99 support level is primarily distribution (see explanation below).
A positive Chaikin Money Flow = ACCUMULATION
A negative Chaikin Money Flow = DISTRIBUTION
Also, the higher the reading (above or below zero), the stronger the signal. This gives us some insight to what’s really behind driving today's price action.
In case you're not familiar, CMF is Chaikin Money Flow - a useful indicator for determining breakouts and relative amount accumulation vs. distribution.
As you can see from the chart, the price action above $5.99 support level is primarily distribution (see explanation below).
A positive Chaikin Money Flow = ACCUMULATION
A negative Chaikin Money Flow = DISTRIBUTION
Also, the higher the reading (above or below zero), the stronger the signal. This gives us some insight to what’s really behind driving today's price action.
