– Polkadot reversed from the round resistance level 1.000
– Likely to fall to support level 0.8000
Polkadot cryptocurrency recently reversed down from the resistance area between the round resistance level 1.000 (top of wave iv from June), 38.2% Fibonacci correction of the downward impulse from May and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooting Star – which stopped earlier ABC correction 2.
Given the overriding daily downtrend, Polkadot currency pair can be expected to fall further to the next support level 0.800.
By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.
By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.