DOT, Polkadot - potential long targets
Hi all,
I will be looking for a potential long positions in the current zone based on the assumption of a consolidation around the previous all time high. The resistance will now act as a support and a new demand zone to trigger the uptrend continuation towards $50 and above. The fundamentals behind Polkadot are quite strong, so there is a chance it will be less-correlated to the $BTC performance and more to the one of $ETH in the current part of the market cycle.
First target is marked by the yellow line on the chart and is confirmed by the next Fibb level upwards.
Regards,
I will be looking for a potential long positions in the current zone based on the assumption of a consolidation around the previous all time high. The resistance will now act as a support and a new demand zone to trigger the uptrend continuation towards $50 and above. The fundamentals behind Polkadot are quite strong, so there is a chance it will be less-correlated to the $BTC performance and more to the one of $ETH in the current part of the market cycle.
First target is marked by the yellow line on the chart and is confirmed by the next Fibb level upwards.
Regards,
Comment:
So far so good. DOT started moving up from the target zone.
