Polkadot (DOT): Fakeout Near Resistance / Shorting?

Polkadot caught our attention with its price, showing some signs of a fakeout near the resistance zone (which was broken but not secured).

As we are forming a fakeout here, we are also looking for potnetial downward movement here, so eyes open!

Swallow Team

Comment:

Polkadot is still trading above that broken resistance zone, where price has re-tested the broken zone and showed some strength around that zone.

Despite that, we are not very optimistic for further upward movement here, so we are still looking for a breakdown to happen, but if we somehow manage to break also the current timeframes ATH, we might see price to move to upper zones here!

Comment:

The first target was reached after getting a nice rejection near the resistance zone.

As we are still falling here, we see some kind of struggle forming near EMAs, but it should not be a worry, (we think).