Select Page

DOT Price Analysis: Polkadot (DOT) Bullish Set Up Confirmed, Next Price Target $17

DOT Price Analysis: Polkadot (DOT) Bullish Set Up Confirmed, Next Price Target $17
Loading...
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.
  • Dot price sees a near 40% revival off weekly low
  • DOT Price is attempting to hold out of falling wedge
  • RSI breaks 5 month trend line

DOT Price Overview

Polkadot (DOT) popped in the crypto scene mid last year as it brought a very useful solution that many cryptocurrency advocates rant about. This solution was pure interoperability across a variety of blockchains, which simply put means; allowing different blockchains to communicate with each other seamlessly. This solution gained much traction as the price of dot experienced nearly 1000% gains in under a year. As the market has fallen the last few months, so has DOT. Although price action is starting to print signs of a potential reversal. 

While looking at the chart, we can see DOT has formed a falling wedge over the past 65 days (shown in blue). This pattern is generally bullish as Polkadot just succeeded in a bullish breakout the last week. At the time of writing, bulls are attempting to break a major resistance zone that is found at $12.85-$14.40.

If price manages to break & hold this zone, DOT will likely rise to its next major resistance of $16.95. But before this can occur, DOT must also break & hold the 30 Day MA shown in red. This mark has held DOT down for over 2 months. 

Polkadot Price Analysis: DOT/USDT 1 Day Chart

i3sjr8YE

If bears come back to take control, DOT will first find support at $12.85. If price fails to hold, DOT’s next bounce area should be the top trend line of the falling wedge pattern. This would be completely fine as it can be looked at as a breakout and retest, which is bullish scenario. Now if Polkadot fails to hold this trend, we can likely suspect a drop to the major support of $10.63 will soon come. Anything below this would be a very bearish scenario. 

  • While looking at the RSI, we can see strength has just succeeded in a breakout of a 5 month long trend line. This is a great sign for the bulls as it is usually the first step to a mid term trend change. As long as DOT can break over the 50 value, much more upside will be on its way.
  • The MACD is currently making a bullish pattern which has one of two MA’s out of it. We should expect a push to the 0 value & a breakout above will likely result in a large price surge.

DOT intraday levels 

  • Spot rate: $13.46
  • Trend: Bearish
  • Volatility: Medium
  • Support: $12.90
  • Resistance: $14.40

The post DOT Price Analysis: Polkadot (DOT) Bullish Set Up Confirmed, Next Price Target $17 appeared first on Coingape.

 

Source: Coingape

 


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now
Loading...

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here
Loading...

Categories

Select Sub Category
category
61496b798f9d5
1
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber

Recent Comments