DOT faces a potential decline, but support levels could lead to a 73% rebound. Analyzing market trends and liquidity outflows...
recent 21.81% weekly gains may stall soon, especially since the asset has started to decline already. At the time of writing, DOT was down 1.81%, with the altcoin likely to head further south soon.
Spot traders seemed to have initiated a downtrend by moving their DOT holdings from private wallets to exchanges for sale. in fact, recent data revealed Exchange Netflows of $125.72 million worth of DOT into exchanges – A sign of strong selling interest.Adding to the bearish sentiment, a significant amount of long positions have been liquidated in the market. In the last 24 hours, $1.21 million in long positions were removed, indicating major losses for traders who had anticipated an uptrend.
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