Many traders believe that decreasing volume is a bad sign.
Not necessarily.
A volume drop often occurs during a consolidation phase where both bulls and bears become exhausted, and are waiting to see what direction the market takes.
Currently DOTUSD is testing the support of its trading range on Binance.
Any small sign of strength will bring the bulls back into action with increasing price and subsequent increasing volume.
For traders who believe in DOT's near-term potential, now is a good place for an entry.
Team Sparkster may add DOT to the SparksterSignals platform for algorithm assisted trading and backtesting. Link below for details.
With a 55% upside potential to the top of the trading range, DOTUSD is one to watch and may soon start to show volatility suitable for trading.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Not necessarily.
A volume drop often occurs during a consolidation phase where both bulls and bears become exhausted, and are waiting to see what direction the market takes.
Currently DOTUSD is testing the support of its trading range on Binance.
Any small sign of strength will bring the bulls back into action with increasing price and subsequent increasing volume.
For traders who believe in DOT's near-term potential, now is a good place for an entry.
Team Sparkster may add DOT to the SparksterSignals platform for algorithm assisted trading and backtesting. Link below for details.
With a 55% upside potential to the top of the trading range, DOTUSD is one to watch and may soon start to show volatility suitable for trading.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
