• Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
Digital Skill Institute
  • Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
      • Login

    DOT

    • Home
    • Blog
    • DOT
    • Polkadot Risks Decline below Current Support as It Targets the $5.60 Low

    Polkadot Risks Decline below Current Support as It Targets the $5.60 Low

    • Posted by DigitalLeonard
    • Categories DOT, DOT/USD, Polkadot, Price Analysis, Trade Ideas, Trading Briefs
    • Date July 16, 2022
    • Comments 0 comment

    [ad_1]

    Resistance Levels: $60, $62, $64
    Key Support Levels: $40, $38,$36

    Polkadot (DOT) Price Long-term Trend: Bearish
    Polkadot’s (DOT) price is in a downtrend as it targets the $5.60 low. Buyers have failed to keep the price above the 21-day line SMA, hence the downtrend. Today, the DOT price is retesting the 21-day line SMA as it faces rejection. . In other words, the 21-day line SMA has restrained a further upward movement of the cryptocurrency. On the downside, if the crypto turns from the 21-day line SMA, it will decline to the current support at $6.37.Where the selling pressure persists, the altcoin will further decline to $5.60 low. Conversely, if the current support holds, the cryptocurrency will be fluctuating between the $6.37 and $7.25 price levels.

    Polkadot Risks Decline below Current Support as It Targets the $5.60 Low
    DOT/USD – Daily Chart

    Daily Chart Indicators Reading:
    The altcoin is at level 45 of the Relative Strength Index for period 14. DOT price is in the downtrend zone and may further decline. It is below the moving average lines indicating a further decline. The moving average lines are sloping southward indicating a downtrend.

    Polkadot (DOT) Medium-term Trend: Bullish
    On the 4-hour Chart, the altcoin is making upward correction as it breaks above the moving average line and pulls back. It is trading above the 21-day line SMA but below the 50-day line SMA. The selling pressure will continue if price breaks below the 21-day line SMA.

    Polkadot Risks Decline below Current Support as It Targets the $5.60 Low
    DOT/USD – 4 hour Chart

    4-hour chart Chart Indicators Reading
    DOT is below the 80% range of the daily stochastic. The market is in a bearish momentum. The moving averages lines are sloping horizontally indicating sideways. The price bars are above the 21-day line SMA but below the 50-day line SMA indicating a range-bound move.

    General Outlook for Polkadot (DOT)
    Polkadot is in a downtrend as it targets the $5.60 low. The selling pressure may persist if the bulls fail to break above the 21-day line SMA. The cryptocurrency may further decline if it loses the $6.37 support.

    You can purchase crypto coins here. Buy LBlock

    Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

    Share with other traders!

    [ad_2]

    Source link

    • Share:
    author avatar
    DigitalLeonard

    Previous post

    GBP/USD Holds Onto Minimal Recovery Profit Beyond 1.1800
    July 16, 2022

    Next post

    Lblock Is Set to Break a Major Resistance
    July 17, 2022

    You may also like

    EURCHF-1Day.png
    EURCHF Bears Successfully Led the Market Into the Demand Zone
    26 July, 2022
    DOTUSD_2022-07-22_09-45-20.png
    Polkadot Resumes Downward Correction as Buyers Fail To Keep Prices above $8 High
    23 July, 2022
    LTCUSDDaily-Chart.png
    Litecoin Risks Decline as It Struggles Below the $59 High
    20 July, 2022

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Search

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    ₦60,000.00 ₦25,000.00
    Step By Step Website Design Tutorial For Beginners

    Step By Step Website Design Tutorial For Beginners

    ₦10,000.00
    How To Create A Professional Website Without Coding

    How To Create A Professional Website Without Coding

    ₦150,000.00 ₦5,500.00
    Digital Marketing Institute Logo
    +2348165842119
    support@digitalleonard.com
    Facebook-f Twitter Google-plus-g Pinterest

    Company

    • About Us
    • Blog
    • Become An Instructor
    • Contact

    Links

    • Courses
    • Events
    • Gallery
    • FAQs

    Support

    • Join Our YouTube Channel
    • Telegram Forum
    • Facebook

    Recommend

    • BINANCE
    • BYBIT
    • HUOBI
    • KUCOIN
    • OKEX
    • BITGET

    Digital Skill Institute By DigitalLeonard.Com Powered by Digital Leonard.

    • Privacy
    • Terms
    • Sitemap
    • Contact

    Login with your site account

    Lost your password?