A descending trendline carrying the ongoing correction plunged the Polkadot (DOT) price to $7.3. However, the coin price reverted from this support with a morning star candle, prompting an occasional pullback.
ចំណុចសំខាន់:
- The DOT price approaching the overhead trendline
- The 20 DMA aligned with the dynamics resistance trendline
- The 24-hour trading volume in the Polkadot coin is $1.8 Billion, indicating a 10% loss.
ប្រភព -ជួញដូរ
During the last four months, the Polkadot (DOT) price witnessed a range-bound rally, resonating between the $23.5 and $16 mark. However, a recent reversal from the range resistance responded to the descending trendline and tumbled 32.5% down to $16.
Moreover, last week’s sell-off in the crypto market accelerated the selling pressure and slumped the DOT price below $16. As a result, the downfall tumbled the altcoin by another 48% and plunged it to $7.3 support.
Furthermore, a low volume reversal from this support indicates a minor relief rally which would soon continue the prevailing downtrend. The DOT price currently trades at $11.05, with an intraday gain of 26.8%.
If buyers continue to push higher, the altcoin will retest the overhead resistance trendline to replenish the selling momentum. The possible reversal would revisit the $7.3 support and threaten a bearish breakdown.
Conversely, a sudden rise in bullish momentum could breach the resistance trendline to kickstart a new recovery rally.
ការវិភាគបច្ចេកទេស
The MACD slope shows a sudden rise and reduces its gap with the signal line. These lines nearing a bullish crossover could bolster buyers to breach the overhead trendline.
However, a recent negative crossover between the 50-and-100-day DMA completes a bearish alignment between the 20, 50, 100, and 200 DMAs. Moreover, the coin price trading below these DMAs, indicates the path to least resistance is downward.
- កម្រិត Resistance - 14.2 ដុល្លារ និង 17 ដុល្លារ
- កម្រិតគាំទ្រ - $ 10.2 និង $ 7.3
ខ្លឹមសារដែលបានបង្ហាញអាចរាប់បញ្ចូលទាំងគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធនិងស្ថិតក្នុងស្ថានភាពទីផ្សារ។ ធ្វើការស្រាវជ្រាវទីផ្សាររបស់អ្នកមុនពេលវិនិយោគលើគ្រីបគ្រីប។ អ្នកនិពន្ធឬការបោះពុម្ពផ្សាយមិនទទួលខុសត្រូវចំពោះការបាត់បង់ហិរញ្ញវត្ថុផ្ទាល់ខ្លួនរបស់អ្នកទេ។
Source: https://coingape.com/markets/polkadot-price-analysis-declining-trendline-prevents-dot-price-recovery/