DOT Price Prediction: Bears Gain Momentum Ahead of Potential $0.74 Target

The price of DOT has been experiencing a prolonged structural downtrend, and analysts are predicting that it could drop to $0.74 before any potential recovery.

Currently trading at $0.79, DOT is holding on by a thread as it's pinned below every meaningful moving average on the daily chart.

The 7-day Simple Moving Average (SMA) has already flipped to resistance at $0.81, and the 50-day SMA is far above the current price of $0.79.

Traders are advised to be cautious as the technical picture is clean and unforgiving, with DOT sandwiched between immediate support at $0.77 and immediate resistance at $0.81.