charted:-polkadot-(dot)-holding-gains-despite-sharp-drop-in-btc-and-eth

Charted: Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

Polkadot’s DOT surged in direction of $18.50 earlier than correcting decrease in opposition to the US Dollar. It is miles retaining positive aspects above $15.00 despite a wreck in bitcoin and Ethereum.

  • DOT rallied above $12.00 and $15.00 earlier than it confronted sellers almost about $18.50 in opposition to the US dollar.
  • The tag is trading successfully above the $15.00 make stronger and he 100 easy tantalizing average (4-hours).
  • There is a key bullish vogue line forming with make stronger almost about $15.50 on the 4-hours chart of the DOT/USD pair (records source from Kraken).
  • The pair remains in a selected zone and it’s liable to proceed better in direction of $18.50 and $20.00.

Polkadot’s DOT Stable Above $15

After an in depth above the $12.00 level, DOT started a new rally above the $15.00 resistance level. There used to be a vital bullish momentum above $15.00 and the price even climbed above $18.00.

However, the bulls failed to check the $20.00 level. The sizzling excessive used to be fashioned almost about $18.37 and the price no longer too long ago corrected decrease. There used to be a smash underneath the $16.50 make stronger level, however the bulls were active almost about the $15.00 and $14.80 make stronger stages (a multi-touch zone).

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A low is fashioned almost about $14.78 and the price is presently rising. It broke the $16.00 level and tested the 50% Fib retracement level of the downward transfer from the $18.37 swing excessive to $14.78 low.

Polkadot (DOT)

Offer: DOTUSD on TradingView.com

There is furthermore a key bullish vogue line forming with make stronger almost about $15.50 on the 4-hours chart of the DOT/USD pair. The tag is clearly trading successfully above the $15.00 make stronger and he 100 easy tantalizing average (4-hours). On the upside, a smash above the $16.60 level would perchance perchance perchance spark a new boost.

The next key resistance would perchance perchance perchance very successfully be almost about $17.50 or the 76.4% Fib retracement level of the downward transfer from the $18.37 swing excessive to $14.78 low. Any longer positive aspects would perchance perchance perchance perchance call for a smash above $18.50.

Unusual Dip?

If DOT tag fails to proceed better above $16.50 and $17.00, there is ceaselessly a new decline. The first key make stronger is almost about the $15.50 level and the vogue line.

A winning smash underneath the vogue line make stronger would perchance perchance perchance assign the $15.00 make stronger at a threat. Any longer losses would perchance perchance perchance perchance call for a fall in direction of the $14.00 level.

Technical Indicators

4-Hours MACD – The MACD for DOT/USD is gaining momentum within the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is calm above the 50 level.

Predominant Make stronger Ranges – $15.50, $15.00 and $14.80.

Predominant Resistance Ranges – $16.50, $17.20 and $18.50.

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