DOT ANALYSIS: 31 /12/20 - Highest Guy In The Room...
DOT ANALYSIS: 31 /12/20
Highest Guy In The Room...
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Neutral
Overall: Bullish
Volatility: Extremely high, 17% up already today.
Local Support: $7.05
Next Support: $6.29
Local Resistance: $8.31
Next Resistance: $8.5
Fundamentals:
- Binance replace ETH/BUSD pairing with DOT/BUSD pairing on Homepage - Bullish
- Binance pledges $10m to Polkadot projects - Bullish
Personal Opinion:
Normally at this time we’d be looking at XRP but... well life’s too short, so let’s look at something less depressing, the irrepressible DOT.
After being high on the project for a while Binance, on Dec 28th, gave DOT a bump pushing it over a (relative to lifespan) longstanding resistance at $5.50 by listing DOT/BUSD in place of ETH/BUSD on their homepage. This move was no doubt driven by an earlier (Dec 23rd) announcement by Binance of their $10m Polkadot project pump. Volume flooded in (a 24-hour trading volume of $2,364,517,133) and the price soared.
Technically today’s strong bullish momentum is likely to be corrected with the RSI indicating the asset as very oversold, the form $6 resistance likely to be correction support.
Longer term a rumoured listing on CoinBase makes sense and given XRP’s woes a place in the top 5 coins looks assured. Bumping ETH on the binance homepage may not translate to bumping ETH in 2021 but it will almost certainly mean bumping XRP, starting with our chosen coin to review!
Let us know what you think in the comments!
Highest Guy In The Room...
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Neutral
Overall: Bullish
Volatility: Extremely high, 17% up already today.
Local Support: $7.05
Next Support: $6.29
Local Resistance: $8.31
Next Resistance: $8.5
Fundamentals:
- Binance replace ETH/BUSD pairing with DOT/BUSD pairing on Homepage - Bullish
- Binance pledges $10m to Polkadot projects - Bullish
Personal Opinion:
Normally at this time we’d be looking at XRP but... well life’s too short, so let’s look at something less depressing, the irrepressible DOT.
After being high on the project for a while Binance, on Dec 28th, gave DOT a bump pushing it over a (relative to lifespan) longstanding resistance at $5.50 by listing DOT/BUSD in place of ETH/BUSD on their homepage. This move was no doubt driven by an earlier (Dec 23rd) announcement by Binance of their $10m Polkadot project pump. Volume flooded in (a 24-hour trading volume of $2,364,517,133) and the price soared.
Technically today’s strong bullish momentum is likely to be corrected with the RSI indicating the asset as very oversold, the form $6 resistance likely to be correction support.
Longer term a rumoured listing on CoinBase makes sense and given XRP’s woes a place in the top 5 coins looks assured. Bumping ETH on the binance homepage may not translate to bumping ETH in 2021 but it will almost certainly mean bumping XRP, starting with our chosen coin to review!
Let us know what you think in the comments!