Hello. My short-term technical analysis on Polkadot(DOT) shows that we can have a move to 57$ and beyond.
We have multiple supports reinforcing the 50-51 support level. We have: 1. ✅100EMA 2. ✅0.236 Fib 3. ✅Lower part of Price Channel 4. ✅Double bottom
The 14-RSI also is resting on its own support(green dashed trendline) with a breakout on it's own channel.
The price is in progress of breaking the red dashed trendline, which is bullish. When broken we may start seeing a bullish climb to $57, maybe even $60
DOT in my opinion has some really good potential. Let's see how this coin moves. I expect about a 10% move in the upcoming days.
Give constructive feedback in the comments, would really appreciate it! Thank you in advanced!
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So far, DOT has been countering this analysis, it is now below 50$
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DOT is now back in the channel. Seems to have formed an inverse head and shoulders pattern
Check the 8 hour timeframe. There are warning signs.
Trader_ph
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@averkieskila, Thank you for your insights. Let's see how DOT goes.
DKBeast-MaratimesCrypto
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all dependss if vwap can be used as support right now is the moment of truth
DKBeast-MaratimesCrypto
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dont doubt you analysis, price action moves funny but the w patterns is indicating a bullish move especially with the rsi position. i see a new all time high i am still in my position already have a take profit at 60 but am willing to change it to 56.. good job buddy