The price of Polkadot (DOT) is in a downward correction as the altcoin consolidates above $8.00 support. Currently, the current support has been holding since May 12. On June 7, the altcoin resumed trading between $8.90 and $9.40.
Today, the cryptocurrency is trading at $9.16 at the time of writing. Nevertheless, the price movement was slow due to the presence of small, indecisive doji candles. If the price of DOT rises back above the $8.00 support, the bulls could break the 21-day line SMA and rally to the 50-day line SMA. If the bears fall below the $8.00 support, Polkadot will fall back to the previous low of $7.18.
Polkadot gösterge analizi
DOT price is at the 40 level of the Relative Strength Index for the 14 period. Polkadot is trading in the downtrend zone as the altcoin is consolidating above the $8 support. The price bars are below the moving averages, indicating a further decline. The daily stochastic is below the 25% area. The bearish momentum is volatile.
Teknik göstergeler:
Ana Direnç Seviyeleri - 28 Dolar ve 30 Dolar
Başlıca Destek Seviyeleri - 16 Dolar ve 14 Dolar
Polkadot için bir sonraki yön nedir?
Polkadot is consolidating above the support level of $8.00. Currently, it is trading in a narrow range and could probably fall down. Meanwhile, on May 11 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that the price of DOT will fall to the Fibonacci extension level of 1.618 or $2.62.
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Kaynak: https://coinidol.com/polkadot-8-support/