Polkadot DOT price growth is still ahead
It is very likely that the DOTUSDT price is currently in the process of forming a global reversal trend pattern - "Inverted Head and Shoulders"
Of course, the final confirmation of the pattern's formation will come after the DOT price is firmly established above $10, and buyers will need to make a lot of effort to achieve this.
Looking at the chart, we can say that the rebound of the DOTUSD price from the bottom can be called quite weak compared to other altcoins.
Buyers of Polkadot token have not broken "shorts stops" yet, which are most likely hiding above levels $7.20 and $8.20, which are the first targets for growth.
Once this target will reach - when the shorts' stops are broken - a price correction may begin.
The medium-term target for DOT price is growth to $10+.
Long-term target - growth in the range of $19-23.5
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Of course, the final confirmation of the pattern's formation will come after the DOT price is firmly established above $10, and buyers will need to make a lot of effort to achieve this.
Looking at the chart, we can say that the rebound of the DOTUSD price from the bottom can be called quite weak compared to other altcoins.
Buyers of Polkadot token have not broken "shorts stops" yet, which are most likely hiding above levels $7.20 and $8.20, which are the first targets for growth.
Once this target will reach - when the shorts' stops are broken - a price correction may begin.
The medium-term target for DOT price is growth to $10+.
Long-term target - growth in the range of $19-23.5
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.