DOT / TetherUSShort
PolkaDOT could fall further to $5.15
DOTUSDT Polkadot's price analysis shows that despite the bears' success in defending the moving averages on April 26, the support at $5.70 held and buyers emerged at lower levels.
As a result, the DOT/USDT pair is expected to trade within a range between $5.70 and the 50-day SMA ($6.20) for a while. If the consolidation breaks to the downside, the selling pressure may increase, pushing the pair towards $5.15, where demand is likely to pick up. Conversely, if buyers manage to push the price above the 50-day SMA, it would signal a comeback for the bulls. In this scenario, the pair may first target
7, and if that level is surpassed, the next resistance would be at $7.90.Let me know what you think!
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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.