DOT - Anatomy of (Potential) Explosive Price Action
DOT today has been one of the best performing alt coins; however, the surge is mostly accredited to the listing on Coinbase. I wanted to explore further if DOT has the potential to gain Market Dominance and continue on this explosive trend. Quick reminder: we are still in a bear market and it is extremely risky to own altcoins at the moment. BTC right now looks prone for a move up, however, BTC Dominance would likely surge as well and little impact may be reflected on alt's.
The way that I see it, DOT.D is right on the cusp for breaking out of the it is currently in. The logarithmic is something I rely to in order to understand when we can break above a certain consolidation range. Right now, if the trend would be to continue, our LMACD would be in a similar sentiment - showing very explosive price action at best and a resistance test in the worst.
Will follow up with snapshots down below. Enter your opinions in the comments.