DOT/ETH – Descending wedge pattern
DOT / Ethereum BINANCE:DOTETH
Dot has always been one of my favorite projects, so I am a bit biased. Dot works to solve many of ethereum’s problems, including long-term scaling and security solutions.
Dot/Eth has been caught in a descending wedge pattern for 6 months. Notice how the RSI indicator has retained support near 30 and has even formed higher highs. This is showing a positive divergence to the chart.
Assuming that the descending wedge pattern breaks to the upside, the initial target would be ~0.01Dot/Eth.
