Polkadot, Within The Channel, Likely Determinations!

Hello Traders Investors And Community,

Welcome to this analysis about Polkadot, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since Polkadot has shown up with its bearish movements to the downside it has somewhat managed to recover within the structure and as for now I discovered is forming a very interesting formational structure that can move into a potential breakout when Polkadot manages to show up with the right price-action, therefore I detected all the important levels and likely determinations we should consider with Polkadots established structure and the upcoming destinies ahead.

Structural Developments:
As when looking at my chart we can watch there how Polkadot is now trading within this major ascending-channel-formation marked in my chart with the blue boundaries and also the coherent wave-count within the formation with which Polkadot already completed all waves from A to E in the schedule, now as this happened we can expect consolidation to move on in this channel further before the final decision of a breakout will show up. At the moment the potential for a breakout above the descending-resistance-line is given as Polkadot is still holding the structure and manages to form up-moves, in such constellations a breakout can establish when Polkadot manages to increase price-action.

Upcoming Determinations:
Taking all these factors into consideration the next times will be extremely decisive for Polkadot and will show either it manages the breakout above the main descending-resistance-line, when this happens Polkadot will move on with the wave-E-extension and test upper resistances. Otherwise when this does not happen and Polkadot increases with bearish pressure further to close below the lower boundary of the channel such a price-action will invalidate the whole wave-E-extension and will show up with bearish pressure to the downside, for now, it is necessary to elevate how Polkadot continues further and how it potentially manages the breakout, it will be an important and interesting development.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.