Polkadot has been playing a inverse relationship with Cordano when it comes to pure technical analysis.
As the Cordano price started to retrace and went into Short Swing down its support at $1.18 , Polkadot started a bullish.
It has now retraced to an ascending channel support and is near Fibonacci Retracement of 50% at $36.00.
I reckon this is real good long...
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You should watch for any movement that deviates from the 35.659-38.856 segment.
If you fall from the 35.659 point, you can touch the 27.211-30.122 range, so you need...
I've been watching this for a lot of days... I admit I didn't post because I wanna buy a bag of DOT but right now I've all my stuff in other coins.
The dashed line indicates the point from which I'll consider it a real breakout. Indicators don't seem to give bad signals so if you wanna enter do it now because it's at support. I'd take as stop loss the lower...
DOT breakout; easy LONG, keep an eye on the resistance box, if we turn it into support we'll set a new ATH.
Fundamental: Go Polkadot, one of the best projects in crypto! That's it.
IMPORTANT: this is not financial advice, invest or trade at your own risk.
The Fibonacci extension is indicating that if we push past the current zone we could see a move to $43.
I'm predicting that this will happen by Sunday give or take 48 hours.
Long term, however, we could see Polkadot reach $53 during the altcoin season (and that's being conservative haha!)
Just a very quick one for now - only had a brief look but was asked for my view so copied my comment here for anyone interested.
In my view we are likely to see a break out to the upside as the BBs in the 12h expand pursuant to the Blue LSMA closing above 50.
Just had a quick look and in most timeframes from scalping through short term to near term DOT showing...
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