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DOTBTC

Polkadot, what next?Chart Overview * 3 Day Dot/Btc Daily * Gann Box * Fibbonaci Circles (0.618 to 0.786) * Red Shaded Rectangle (Potential Resistance formed by VPVR) * Green Shaded Rectangle (Potential Support formed by VPVR) * Diagonal Cross/45 degree line (Blue) * Vertical Cross (Green) Analysis DOT is sitting within the Fibbonaci Circle and the two price/time Gann lines, the line below the price that forms the diagonal cross represents the 45 degree line which is considered an ideal balance of price and time and could form a strong support heading upwards. The line above could act as resistance keeping the price within a megaphone pattern. The green cross can act as pivotal price points which can push the price up or down. Conclusion Dot has seen a massive correction, more so than many other coins, even if it were to break down below the diagonal cross or 45 degree line, strong support is awaiting making the bearish argument hard to make. The bullish argument is strong, we are close to lots of support (the 45 degree line, the 0.786 circle, the green rectangle) and resistance is far ahead at 0.0006. Targets * Less Likely: Bearish = 0.00032 * More Likely: Bullish = 0.0006 What do you guys think, bullish or bearish? *Disclaimer: Not professional advice.
Long
by cmpkpersonal
1
DOT is going to break through this triangle ❗❗❗Yesterday bitcoin broke its local trend line upwards. Many altcoins also reacted to it. In my view, DOT is still building up strength for an uptrend. This can be seen in the price compression near the upper boundary of the triangle. If Polkadot breaks up and tests the upper boundary of the triangle as support, it could be a good time to buy. Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
7
Polkadot (DOT) - July 11Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (DOTUSD 1W Chart) If the price is maintained above the 16.14614892-20.26700243 range, the uptrend is expected to continue. (1D chart) If the price finds support at the 14.81206139-18.49989746 range and moves up to maintain the price at the 18.49989746-25.87557006 range, I would expect a reversal to an uptrend. If it falls in the 13.59084203-14.81206139 range, it is possible to enter the mid- to long-term investment zone, so careful trading is required. However, section A is a section that formed support and resistance sections, and is expected to rise if it receives support within this section. ------------------------------------- (DOTBTC 1W chart) If the price is maintained above the 48719 Satoshi point, the uptrend is expected to continue. (1D chart) If the price is maintained in the 45117 Satoshi-57890 Satoshi section, it is expected to turn into an uptrend. However, it remains to be seen if it can rise above the 48719 Satoshi point. If it goes down, we need to see if there is support in the 38731 Satoshi-45117 Satoshi section. If it falls from the 38731 Satoshi point, there is a possibility of entering the mid- to long-term investment area, so careful trading is required. ------------------------------------------ We recommend that you trade with your average unit price. This is because if the price is below your average unit price, whether it is in an upward trend or in a downward trend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry through split trading. GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BINANCE:DOTUSD
by readCrypto
DOT has punched that triangle. Urgent update!!!😮😮New update on the DOTUSDT! You can clearly see on the Dot chart that price has broken through the triangle structure that was formed. If price tests this triangle as support and corrects to the area marked below, it could be a good time to open a position. And the potential target for this move could be the one marked on the chart above!!! Write in the comments all your questions and instruments analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
Long
by Yuriy_Bishko
10
Dot could go up a lot if it breaks this level! 🤑🚀On the Dot we can see that the price has been in a local consolidation for 8 days, the last attempt to close higher failed and the Dot has corrected to the middle of the consolidation. At this point, the price may try to go higher again and get out of this consolidation, but it could also pick up stop losses below and possibly move up from there! If Dot manages to break this resistance level, close higher and test it as support, this could be the best area to buy with the targets above. I expect the best opportunities to enter the market now! Write in the comments all your questions and instrument analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
by Yuriy_Bishko
8
POLKADOT DOUBLE BOTTOM BREAKOUT AT 16.50!Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below. Polkadot (DOTUSDT) is forming a potential double bottom with the neckline at $16.50. If price breaks above $16.50 with strong volume , I will be looking to take a long position. Need to wait for the confirmation before entering. Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin , Ethereum , and Altcoins. Why follow? 1. Community of Technical Analysts sharing analysis and trades 2. Live tracking of whale wallet movements 3. Live update of the latest important news 4. Live syncing of popular crypto tweets 5. Ebook covering how to be profitable in the cryptocurrency market As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
Long
by cryptotraderog
12
DOT, a good investment in the long term?Polkadot (DOT) is an innovative blockchain project that aims to create a secure interconnection infrastructure between different blockchains, while providing scalability and new functionalities to them. One of the recently created cryptocurrency projects that has caught everyone's attention is Polkadot (DOT). ¿The reason? This new blockchain technology scheme seeks to dethrone Ethereum with a vastly more scalable and efficient network. At the same time, it offers the possibility of interconnecting several blockchains and becoming an unparalleled cross-chain development hub. Undoubtedly, this makes Polkadot a plan with a very high goal and that leaves us with the following question: ¿Will it succeed? Well, in this article you will have the chance to learn all about this plan and answer for yourself, these and other questions about this spectacular plan. Polkadot, origin of this plan . The principles of this plan lead us to meet one of the leading figures in the crypto world, Gavin Wood. Wood is a well-known blockchain technology creator who was part of the Ethereum development team. By the way, Wood held the position of primary inventor of Ethereum, being at the same grade as Vitalik Buterin. A situation that denotes his understanding and work on this plan. It is thanks to Wood's work that Ethereum has the powerful Solidity programming language, which was developed by him. However, on January 11, 2016, Wood made the decision that it was time to leave and start his own plan, abandoning the Ethereum plan. At the time, Wood's initiative was to initiate a blockchain plan capable of overcoming Ethereum's weaknesses. In particular, its scalability and enabling novel cross-chain management constructs. Thus, by June 2016, Wood had already started working on this new plan, and in October 2016, he presented the first version of the Polkadot whitepaper to the world. This marked the beginning of this interesting plan, in which inventor Marek Kotewicz was also participating. From that moment on, the development of Polkadot would begin its path, until a larger proportion of attention would be focused on it. Something that, by the way, can be seen right now. Polkadot is one of the blockchain projects with the greatest growth in 2020 and the beginning of 2021. Initial funding of the plan . Gavin Wood started this plan with the financial support of his organization Parity and the Web3 Foundation, which he also helped to generate. Although, Parity and Web3 Foundation are referents within the entire Ethereum world, their collaboration in funding Polkadot is fundamental. However, the resources of the two organizations were limited as they were focused on Ethereum. This led to the execution of an Initial Coin Offering (ICO) that was done from October 15 until October 27, 2017. The triumph of the ICO has been extraordinary, being able to raise $143 million for the development of this plan. Shortly thereafter, however, this triumph would be put in serious jeopardy. A hack would cause Parity to lose well over $90 million on the Ethereum network. With its revenue severely diminished, the work path was rethought and Gavin Wood left in clear that Polkadot's work would continue. This was because there was enough money for the plan to succeed and the terms of the ICO would be respected. Additionally, Parity and Web3 Foundation sought to solicit support for a hard fork to recover the rest of the ETH blocked by the hack. The size received harsh criticism and the society opposed the execution of an action like the one granted after The DAO hack in 2016. This as they feared that this case will lead to a whole new incision in the society. ¿Result? The funds are still locked in the notorious Parity Bug, and there seems to be no way to get commented money out of that site. Polkadot, an extremely distinct blockchain network initiative . Now, Polkadot began its journey in Gavin Wood's mind as a network capable of giving the same abilities of Ethereum, simultaneously overcoming its weaknesses, and offering a sequence of unique properties. To be able to do this, Polkadot devised from its foundations a whole new set of technology and agreement protocols intended for that purpose. In the first instance, Polkadot was created with the performance of heterogeneous networks in mind, which could be interconnected. Thus, Polkadot could perform with 2 well-defined functionalities: As a data transmission and processing chain. A function that enables it to receive information from other chains, process that information and send it back to the chain of origin. This first choice makes it possible for Polkadot to become a scalability layer for any other blockchain that requires it. Free performance by building your own chains. That is, producing chains with their own abilities, such as the compatibility situation to carry out smart contracts or tokens. This enables the native management of decentralized applications (DApps) and tokens over the network that have the possibility to take full advantage of the network's potential. The initiative with all of the above is that Polkadot manages to become a scalability choice for networks such as Ethereum or other cryptocurrencies. In addition, it could also serve to interconnect various ecosystems in different blockchain all on the same network. This last case, as an example, can be seen with the DeFi, Equilibrium plan that lives in EOS. Relay Chain and Parachains, Polkadot's chain separation . Additionally, this management enables Polkadot to provide better stability, scalability through sharding and parallel execution in the network, which increases the overall performance of the network. At this point, it is essential to highlight the application of sharding in Polkadot. Recall that this computing technique divides the primary chain and the network into some sub-chains and sub-networks attached to it. Thus, each subchain has its own blockchain history, nodes, and all the elementary infrastructure for its management. In Polkadot in other words just what happens. The subchains in Polkadot are called parachain, which have the possibility of being seen as a sidechain or secondary chain, where a blockchain instance of its own is made. In other words, a parachain has its own blockchain or history, which holds its own reality of tokens, smart contracts, and nodes. In this way, this parachain has its own capacity and computational power to meet its own needs. The Relay Chain, however, is the primary chain of Polkadot, and it exists under the alliance of the history of each of the parachains running in parallel in the Polkadot network. This organization makes it feasible for Polkadot to achieve parallel smart contracts, and additionally, it enables greater scalability than recent blockchains. Additionally, this segmented functionality also enables the life of Bridges, with which the parachains have the possibility of opening communication with other blockchains (such as Ethereum, EOS or Bitcoin) and serve as a link with them. As parachains have the possibility of communicating with each other, this also makes it possible for several Bridges pointing to other blockchains to communicate, serving as cross-chain channels to make operations between them. In short, with Polkadot and its Bridges, it is feasible to interconnect Bitcoin and Ethereum (or other blockchains) at great speed, with greatly reduced prices without abandoning stability at any time. Smart contracts and tokens in Polkadot . Polkadot does not natively support smart contracts. This leaves aside the construction of tokens or DApps natively in the network. However, Polkadot parachains are extensible and modular, having the function of being able to generate abstraction layers that allow the execution of these smart contracts. When executed in a parachain, the effect of these contracts is reduced in terms of resource consumption to that parachain, leaving the rest of the system in common operation. This prevents, for example, that a high number of transactions in a parachain, degrades the performance of the rest of the system. Another great virtue of this system is that its handling, design, programming and deployment is much simpler. This has made Polkadot a much more secure network. Additionally, smart contract-capable parachains have the ability to activate alternative high-speed protocols that enable the execution of smart contracts with minimal effect on the overall Polkadot ecosystem. A case in point for this class of functions is EdgeWare, which has an expansion layer for Polkadot that enables the execution of Polkadot, including support for Ethereum smart contracts and its EVM. Additionally, there is also Ink, a development designed to build smart contracts that exploits the abilities of Substrate, an important section of Polkadot, and uses the secure programming language, Rust. Another highly relevant plan in this regard is Moonbeam, which enables a Polkadot parachain with these abilities, which implements a solution fully compatible with Ethereum's EVM, and with Web3 RPC API, giving each of the elementary instruments to programmers to take advantage of the potential of Ethereum smart contracts on Polkadot. Obviously, these are not the only resolutions for smart contracts in Polkadot's parachains, however they are a clear sample of the likelihood of making this technology easy to implement and much more so on the web. Organization of the network in Polkadot . Now to be able to do this kind of management, Polkadot has made a whole new network organization in which 4 resources stand out. These resources are: Validators The Polkadot network, like any blockchain network, has a set of validator nodes whose job is to review, validate and inform the network about the information contained in each block that belongs to the blockchain. These blocks come from the nominators, who are delegated to generate the candidate block to be examined and validated by the validators. Given the value of a validator, and the way Polkadot works, this position requires powerful hardware, high bandwidth, a dedicated connection to the network and, in addition, Polkadot validators have to block DOT tokens in order to qualify as network validators. However, he recalls that Polkadot is a network with segmented sharding performance and parallelism capability, which raises the computational power and connection requirements. Nominators Nominators, on the other hand, are a particular type of node whose job is to produce a secure link between the validators and the entire network performance process. The role of nominators is simple: to take transactions from the network, group them together and do the metadata generation process necessary for the validators to verify the same and include it within the Polkadot blockchain history. Undoubtedly this functionality is very similar to the Proof of Work (PoW) miners or Proof of Stake (PoS) validator nodes, and their functionality is practically the same in this sense. Additionally, the nominators issue to the validators the composition of a block will be examined by the validators, who will have the final say in issuing it and make it part of the Polkadot history. Classifiers This kind of nodes help the validators to keep a complete history of the parachain (Polkadot substring) to which they were assigned. Their job is to keep at all times the elementary information to generate new blocks in the parachain, which in the end will culminate in the complete Polkadot history. In classic situations, it will collect and execute transactions to generate a block and provide it, along with a zero proof of understanding (ZKP), to one or more currently causing validators who are suggesting a block in the parachain. Fishermen Given the sharding management of Polkadot, where there are different substrings that are part of a more complete history, an infrastructure designed to prevent malicious actors from cheating has been created. This composition is maintained by fishermen or fisherman. These nodes have the ability to search for duplicate transactions or illegal operations in the network, in order to avoid them, in exchange for a reward. The performance of these 4 parts is what enables the orchestration of the process of generation, verification, validation and issuance of blocks in Polkadot and its parachains. In addition, it is noteworthy that the communication between all these resources (between the subchains and the main chain) is completely asynchronous and parallel, ensuring a high speed of communication within the system. Consensus on the network . The resources that are part of the Polkadot network work in unison thanks to the Polkadot settlement protocol known as NPoS or Nominated Proof of Stake. This settlement protocol is intended as a slight alteration of the well-known Proof of Stake (PoS) protocol. In NPoS, validators have to provide the infrastructure and maintenance of the network. They are the ones causing the production of new blocks, the validation of parachain blocks, ensuring the target and ultimately the stability of the network. They have to be responsive at all times and realize a secure and reliable infrastructure. In addition, validators require tokens to back them up, which incentivizes them to perform with the rules, because otherwise part of those tokens could be taken away (a criterion called "cutoff"). For their services, validators are paid in rewards called in the native token of the underlying network. In order for validators to get to do their services for the network, they have to be in the active group. Validators in the active group take turns raising, validating and adding new blocks. On the other hand, nominators are token holders who contribute to the stability of the network by financially supporting (also known as "nominating") up to 16 validators of their choice with their tokens (also known as "participating"). Nominators share part of the rewards earned by the validators in the active group they nominated. It is essential to consider that nominators also remain subject to cuts in case of misconduct by one of their nominated validators. ¿How does it work? How does it work? NPoS can be equated to an election and was inspired by Phragmen's sequential procedure. This procedure was introduced at the end of the 19th century to optimize the voting of a group of a defined number of individuals from a larger group of candidates. Thus, the purpose of NPoS is to ensure decentralization and fair representation through justified proportional representation. And alongside that, to provide high stability through increased support. Proportional justified representation ensures that slots are allocated to validators in proportion to their nominations. Therefore, the more nominations and, ultimately, the larger the proportion of tokens that endorse a validator, the greater the chance that the validator will be chosen for the active group. Validators are ultimately chosen from each other. This means that the group of active validators changes in each Era. When validators are elected to the active group according to their nominations, the support grants a sharing of the nominated collaboration whereby each validator in the active group has about the same proportion of collaboration that supports it. This increases the overall stability of the network by increasing the stakes by supporting the "weaker links" of the validator group, which ultimately makes it more resistant to attacks. Distribution of rewards in NPoS In NPoS, all validators in the active group receive the same proportion of rewards. From these rewards, the validator's commission is inferred. The remaining rewards are distributed among the nominators in proportion to their collaboration. At this point, the system works identically to Proof of Stake (PoS). Token DOT, the economic heart of Polkadot . In order to retain management of the entire Polkadot network, this plan has developed a token named DOT. The purpose of this token is multiple. In the first instance, it serves the decentralized governance of the protocol. For this purpose, the DOT token gives the validators a voting power with which they have the possibility to participate in the elections and evolution of the plan. In addition, the DOT token serves to bind and incentivize validators to act honestly in the network. This is because they have a financial interest in the veracity of the verification process. Furthermore, Polkadot's parachains or subchains have the possibility of being created, joined or destroyed due to the DOT tokens. This undoubtedly gives great flexibility and maintainability to the network. b]Technical Analysis: Polkadot is a good project, but it is quite new, although it has good development and a strong community, besides being solid in terms of liquidity, it could attract our attention to invest in it in the long term. As we already know we have a strong economic crisis, DOT was born in the middle of a bullish rally, we do not know how it will behave in a downtrend which is the current one, but as always, we could expect a pullback to 0.786 Fibonacci and a little more. That would take us to test levels of 12.5 USDT-9 USDT. Which would be our long term buying zone. Although let's change the way we look at the possible bullish range testing zone. Actually this would be the floor, the behavior of DOT since the fall of BTC has been dramatic compared to other assets similar to it, having stronger pullbacks to those same assets, assuming BTC falls to 16k which is our buy zone I have said since March ¿Dot would be at 12 usd?, answering this question, currently DOT would need to lateralize and start trying not to go down as hard, but the current bitcoin price range towards 16k, suggests that DOT could get more bearish prices. In this situation, we could use the Gann fan to get an idea. The Gann Fan suggests that this price is the maximum of the fall, but personally, this time I will be a little wary of technical analysis and will make a range based on the Fibonacci Gold Ratio. Based on Ratio gold, we could have these 4 possible buying zones. Although it should be noted that I will prioritize from the range of 13 to 7.5 USD, as scalar purchases. Thus obtaining an average that would help us to avoid taking a bad position in the long term within this asset. And I will have a strong amount for the 5 USD value. Although it is a value that I believe we will not touch again, the POC of Volume suggests that this area will be in high demand. Regarding long term objectives. I would expect to reach a minimum value of 46.971 Ratio Gold in the long term, being a value of 65 USD. Up to a maximum of 75.88 Ratio gold, this being a value of 107.63. Finally, the RSI, still gives a possible range of fall to go to test levels 20-30 of RSI. You know that these charts are not designed to visualize the time when these values will be reached, we put the maximum rate to reach these values until 2030, being the most pessimistic. I really believe that DOT has performed poorly despite being liquid compared to other assets. However, I believe that its long term development, when 2024 halving begins, could represent a sign of a possible new upward cycle. In the meantime, I will review the project and its development in order to make up my mind and have more confidence in the asset to invest. Polkadot (DOT) is an innovative blockchain project that aims to create a secure interconnection infrastructure between different blockchains, while providing scalability and new functionalities to them.
Long
by UnknownUnicorn18500526
4
POLKADOT Massively Undervalued vs ETHAfter the big surge in DOT since early 2021, DOT moved all the way down to test the absolute bottom vs ETH since its launch. Expecting this lower range to be the bottom and a trend reversal in the coming weeks. There's bullish divergence in the RSI and MACD. Parachain auctions will be launching for DOT in the coming weeks, this will also highly increase the demand for the coin. This is not financial advise, it's just to keep track of my own trading.
Long
by Stricken
1
Polkadot (DOT) - June 22Hello? Welcome, traders. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (DOTUSD 1W Chart) If the price holds above the 16.14614892 -20.26700243 range, we expect the uptrend to continue. (1D chart) It remains to be seen if the 14.81206139-18.49989746 section can find support and move up. In particular, it remains to be seen if the price can sustain above the 16.14614892 point. If it goes down from the 14.81206139 point, it can touch the 10.15772403 point and move up, so you need to be careful. In a downtrend, I think that falling when the volume is on a downtrend is the force that makes it go up faster when it goes up. ------------------------------------- (DOTBTC 1W chart) If the price holds above the 48719 Satoshi point, it is expected that the uptrend will continue. (1D chart) It remains to be seen if the price can be maintained in the 45117 Satoshi-57890 Satoshi section. If it goes down, we need to see if there is support in the 38731 Satoshi-45117 Satoshi section. To convert into an uptrend, it needs to rise above the 57890 Satoshi point and find support. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** See support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. Explanation of abbreviations displayed in the chart R: A point or section of resistance that requires a response to preserve profits. S-L: Stop Loss point or section S: A point or section where you can buy to make a profit as a support point or section (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they are not traded 24 hours a day. G1 : Closing price when closed G2: Opening price (Example) Gap (G1-G2)
BINANCE:DOTUSD
by readCrypto
1
DOT, Polkadot - we made retest. Time to buy?Dot broke out the resistance line and retested it. It's a good time to open a long position with SL lower than the last low. DON'T FORGET ABOUT RISK MANAGEMENT. The situation may change. Write in the comments all your questions and instrument analysis of which you want to see. Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU. P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade
by Yuriy_Bishko
9
DOT goes ballistic, launching toward $28Polkadot becomes of the most improved crypto assets in the top ten. The token rallied in tandem with Bitcoin's recovery from $31,000 to $37,000. Support at $20 played a key role, ensuring that DOT did not explore lower price levels. Meanwhile, most cryptocurrencies are in green on Thursday toward the end of the Asian session. Similarly, Polkadot trades at $24 following double-digit gains of over 14%, accrued in the last 24 hours. Polkadot uptrend seems intact Polkadot has lifted above two critical levels, the 100 Simple Moving Average (SMA) and the 50 SMA. These are significant milestones within this recovery mission. Note that a four-hour close above these levels would validate the upswing to the next critical level at $28. The Moving Average Convergence Divergence (MACD) indicator adds weight to the bulls' ability to take down the seller congestion at $28 and perhaps catapult DOT beyond $30. The MACD is a momentum indicator; it also follows the trend of an asset. Both sell and buy signals are usually expected from this technical indicator. Realize that the MACD line crossing above the signal line, as illustrated on the chart, is a bullish signal. The MACD line dropping beneath the same signal line is a call to sell on the flip side. Moreover, a break into the positive region (areas above the zero line) is another bullish signal. The Relative Strength Index (RSI) cements the bulls' presence in the market. This indicator tracks the trend of an asset and measures its momentum. Note that a sharp movement toward the overbought region shows the aggressiveness of the bulls. The RSI also identifies when an asset is overbought or oversold. Therefore, as the indicator hits the overbought region, investors should tread cautiously to avoid being caught unawares by a correction. Polkadot intraday levels Spot rate: $24 Trend: Bullish Volatility: Low Resistance: $28 and $34 Support: $20 and $14.5
BINANCE:DOTUSDLong
by CoinGape
4