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Polkadotprice

#Polkadot Drops 15%, DOT's 4 Month Rally Ending?Past Performance of Polkadot The contraction of Bitcoin had a profound effect on altcoins, including Polkadot. The coin is underperforming at spot rates, sliding 15% from recent peaks. Even so, buyers remain in control from an effort-versus-results perspective, looking at the general performance in the daily chart. #Polkadot Technical Analysis The bearish engulfing bar of April 19 is with expanding volumes, thrusting bears in control. Since there was a follow-through and bears remain in control even at spot rates, traders can search for entries to sell. The immediate support line is $5.7, marking last week's highs. Meanwhile, resistance is at $6.1 and April highs, respectively. Losses below the previous week's lows with high participation levels may see DOT crumble to $5.2, the March 2023 lows; flashing with the 78.6% Fibonacci retracement line of the Q1 2023 trade range. What to Expect from #DOT? DOT buyers have a chance despite the recent drawdown. Any recovery pushing the price above $6.1 may spur activity, helping lift prices above $6.8 in a bullish continuation formation. Conversely, sharp liquidation may unwind gains, triggering a sell-off. Resistance level to watch out for: $6.1 Support level to watch out for: $5.7 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Polkadot Retests Base of Bull Flag, Will DOT Bounce From $5.8?Past Performance of Polkadot Polkadot is steady at spot rates but remains pinned within a bear range defined by the end of last week's wide-ranging candlestick. The trend will shift unless there is a high volume expansion from spot rates, thrusting the coin above $6.7. Therefore, unless there are changes, how DOT reacts at the $5.8 support would shape the immediate term. #Polkadot Technical Analysis From volume analysis, sellers have the upper hand if DOT is within the bear bars of March 3 and 4. The immediate resistance lies at $6.3, while prices must hoover above $5.8 for the uptrend to be valid. The support forms the base of the bull flag following the retracement from February highs at around $7.5. A follow-through confirming losses of early this month might see DOT drop to $5, the 78.6% Fibonacci retracement level of the December to February trade range. Conversely, only gains above $6.3 with rising participation levels might see DOT resume the uptrend, driving the coin back to $6.8 and $7.5, respectively. What to Expect from #DOT? DOT is at a critical reaction point as bears retest the base of the bull flag. Any recovery above March 3 highs would be a net positive. However, considering the over 85% from December lows, the odds of a cool-off are amplified. Technically, gains above February highs would invalidate this bearish preview, paving the way for bulls to take control. Resistance level to watch out for: $6.3 Support level to watch out for: $5.8 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
Polkadot: On the Dot ⌚️Polkadot has already made further progress in our primary scenario and should continue the downwards movement. We expect our crypto-friend to arrive in the magenta-colored zone between $6.49 and $6.06 on the dot to finish wave a in green. Then, the altcoin should apply itself to the countermovement of wave b in green, which should lead out of the magenta-colored zone but stop before the resistance at $7.89. Afterwards, Polkadot should take another southwards step by completing wave c in green as well as wave ii in orange. Alternatively, there is a 40% chance that Polkadot could climb above the resistance at $7.89, thus shifting the recent high upwards by developing wave alt.i in orange.
BINANCE:DOTUSD
by MarketIntel
1
#Polkadot Sinks 24% as DOT on the Brink of Losing $4.2Past Performance of Polkadot The Polkadot selloff of the last few weeks has seen the coin drop 24 percent from December highs. As it is, the downtrend remains visible, and sellers are in a commanding position. The primary support is at $4.2, and bulls need to reclaim $4.6 for uptrend continuation. #Polkadot Technical Analysis There are hints of strength, reading from the performance in the 4HR chart. With support at $4.2, DOT has been printing higher highs relative to the lower BB. Despite this expansion, trading volumes are low, and the uptrend is slower than expected. Besides, since DOT is within the bear range of mid this week, sellers have the upper hand from an effort versus result perspective. Technically, traders can unload on every high below $4.6, expecting a retest of $4.2 with the possibility of trend continuation to $3.6. What to Expect from #DOT? The downtrend is defined, and buyers are struggling as the bear market bites. Until DOT clears $4.6 with rising participation levels, sellers will remain in control aiming for further drops to the critical support at $3.6. Resistance level to watch out for: $4.6 Support level to watch out for: $4.2 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Polkadot Sellers in A Commanding Position, Will DOT break $5.8?Past Performance of Polkadot The general trajectory of DOT is southwards. Despite attempts higher in the second half of November, bulls are yet to follow through, confirming the upside. Thus far, sellers are in a commanding position with the path of least resistance defined. Though prices are stable, even printing higher, participation levels are comparatively low, questioning the resilience and conviction of traders. #Polkadot Technical Analysis Polkadot traders appear hesitant. Of note, prices are still being shaped by the bearish engulfing bars of early November. As it is, DOT has support at around $5. There were higher highs in late November and early December. However, it appears bulls couldn't sustain the move higher. This means the immediate resistance and buy trigger is around $5.80, or last week's highs. For DOT buyers to take control, a move above this line could see the coin rise to retest $7.45—or November lows. All the same, price action favors sellers. Therefore, aggressive traders can unload the coin, targeting $5. Further losses could see DOT drop to $4.50. What to Expect from #DOT? The Polkadot ecosystem is growing, overly bullish for DOT, which is the network's utility coin. Price charts point to general weakness and the continuation of a trend of the past year. Gains above last week's highs could relieve traders angling to retest November highs or post better results in Q4 2022. Resistance level to watch out for: $5.80 Support level to watch out for: $5 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Polkadot Slumps 90% from Peaks; DOT May drop below $5.3Past Performance of Polkadot After soaring to as highs as $55 in November 2021, DOT is now 89 percent from all-time highs and wallowing against a wave of intense selling pressure. From the daily chart, bears are squarely in charge, and November 16 losses offer no reprieve for buyers. The immediate support lies at $5.3, while any gains above $6.3 may lift Polkadot back to November highs. #Polkadot Technical Analysis DOT prices are inside a bear flag, trending within the two defining bear bars of November 8 and 9. The failure of bulls to flow back, reverse losses of last week, and build on November 10 hints at weakness. Therefore, since prices are below $6.3, trending with low volumes, and inside a bear flag, sellers can double down, targeting $5.3 in the short term. This preview will only shift once DOT surges above $6.3, breaking above the bear flag. Then, the coin might fly to November highs at 7.3. What to Expect from #DOT? Like the rest of the market, Polkadot is under immense selling pressure. After shrinking roughly 90 percent from peaks, there could be more drawdown if immediate support at $5.3 doesn't hold. Resistance level to watch out for: $6.3 Support level to watch out for: $5.3 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Polkadot Bottoming up, DOT up 16% as Bulls Aim at $8Past Performance of Polkadot Polkadot prices are down 30 percent from the August 2022 peaks, per the formation in the daily chart. Although the community expects DOT prices to recover after posting sharp double-digit losses from 2021 peaks, bears still have the upper hand. However, if DOT pierces above critical ceilings, the coin may surge to new Q4 2022 highs in a welcomed move. #Polkadot Technical Analysis Buyers are in control, and every low is an opportunity to accumulate. After sinking to register new 2022 lows in October, bottoming up from $5.74, the coin has since rallied 16 percent. At spot rates, there are bullish bars along the upper BB, pointing to solid upside momentum and support by traders. The spark is because of the wide-ranging bull bar of October 22 that pushed the coin above the resistance line, the middle BB, with expanding volumes. Even though the current coin's trade ranges are comparatively low to then, bulls have been resilient. Therefore, as long as DOT is above the middle BB and $6.28, the coin may race to September highs at around $8. What to Expect from #DOT? Buyers are bullish, and DOT is breaking out--a net positive. Prices are still within a bullish breakout formation as buyers press on. Since DOT is above the middle BB and $6.28 support, traders can target new Q4 2022 highs at $8 or better. Resistance level to watch out for: $8 Support level to watch out for: $6.28 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Polkadot Remains Bulls despite DOT Slipping from H2 2022 HighsPast Performance of Polkadot Like the rest of the crypto market, Polkadot is relatively suppressed when writing. There are hints of weakness, and the coin is down six percent on the last trading day versus the resurgent USDT. Still, buyers appear to be in charge in short to medium term. Notably, the August 8 bar is bearish, reversing gains of August 8, a net bearish. #Polkadot Technical Analysis Traders are upbeat, and DOT is up 50 percent from 2022 lows as prices bottom up. The immediate resistance is at $9.5, a price zone that also flashes with May 2022 lows. If buyers reverse August 8 lows and remain above $7.8 and the middle BB, every low may provide a loading opportunity as DOT flies to H2 2022 highs. This may provide an impetus for aggressive traders to buy on dips, targeting $10 and $12 in the medium term. However, if bulls struggle and prices drop below August 8 lows and 7.8, the odds of DOT slipping to $6.3 in confirmation of the August 1 bear bar will be elevated. What to Expect from #DOT? Polkadot is bullish and within a bullish formation as per the arrangement in the daily chart. Still, there must be confirmations, shaking off bears of August 8. Technically, DOT is bullish above $7.8 and may float to new H2 2022 highs if prices recover from spot rates. Resistance level to watch out for: $9.5 Support level to watch out for: $7.8 Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Polkadot's Upside Limited, will DOT Steady above $8.5?Past Performance of Polkadot The broader crypto market expects a recovery, a development that might lift DOT prices from 2022 pits. Still, sellers remain firmly in control with resistance at the middle BB. Currently, DOT crypto prices are struggling against a deluge of selling pressure. The coin is down roughly three percent in the past trading week. #Polkadot Technical Analysis DOT prices are inside a tight trade zone, tracing the middle BB as bears diffuse attempts for higher highs. In a bear flag, the coin has support at $8.5. On the other hand, resistance is defined by the flexible resistance line, the middle BB, and $11. Ideally, buyers should wait for confirmation of May 13 gains. That will mean a clean break above $11 with rising trading volumes. If not, any drop below $8.5 or last week's lows could trigger a sell-off towards $7 in the immediate term. What to Expect from #DOT? Polkadot is struggling, and bears are in a commanding position. The odds of unexpected recoveries above the middle BB are slim to none. Accordingly, aggressive DOT bears may unload on dips, doubling down, especially if there are further losses below last week's lows. Resistance level to watch out for: $11 Support level to watch out for: $8.5 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer