Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT _________ I forgot to make a TA on this as someone requested for it. Sorry. _________
Technical Analysis
Elliot Wave Polkadot is now making an impulsive move to the upside. There is a big potential that it had already reach a bottom for the price (Green Box). I will be more bullish, if it breaks that red box and continue further up. Wave 5 targets is the blue box. Most likely to hit at $ 82.75 at 78.60% Fibonacci. From Weekly to 1-hour timeframe, it may suggest a potential more upside to come and selling pressure is declining. Wave 1 is a very quick impulse wave while Wave 3 is a long and prolong impulsive move. I think, wave 5 will most likely to look like Wave 1 – a very quick impulsive move. So, most likely, in just a shorter period of time, it may reach the Wave 5 Target.
Weekly EMA 21 may acts as resistance at $ 21.56. I’m watching for bullish crossover in MACD.
Daily I forgot to mention in the chart. Bullish Crossover of EMA 9 & MA 50. MA 200 (black) which closer to 61.80% Fibonacci may acts as a strong resistance at $ 27.52
4HR
1HR _________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT