DOT recovers key zone and can move further up
Polkadot (DOT) has been on the rise since July 20 and has recaptured the horizontal assist space of $ 17.10.
The DOT is rising together with the ascending assist line and the uptrend will stay intact so long as it stays that manner.
The DOT has been up since July 20 after hitting a low of $ 10.37. It tried to move above the horizontal zone of $ 17.10 on August 1st and confirmed it as assist three days later. It has since risen to hit a neighborhood excessive of $ 21.68.
The technical indicators within the day by day timeframe are rising and supporting the continuation of the uptrend. This is especially clear with the MACD when the sign line has crossed the zero line.
The subsequent resistance is at $ 30.10. That goal is the 0.5 Fib retracement resistance stage.
DOT / USDT day by day chart | Source: TradingView
The six-hour chart provides blended indicators.
On the opposite hand, we can see that DOT is transferring alongside an ascending assist line and bounced off it on August ninth (pink icon).
However, each the MACD and RSI produce bearish divergence (in blue). However, the latter indicator produced a hidden bullish divergence (pink) adopted by the restoration talked about above.
Hence, the DOT is extra more likely to proceed rising so long as the assist line is undamaged.
DOT / USDT 6-hour chart | Source: TradingView
The two hour chart can be exhibiting a decline because the divergence has closed.
After that, the MACD confirmed a bullish reversal sign and the RSI moved above 50.
If the DOT continues to rise, the primary minor resistance will probably be discovered at $ 23.45.
DOT / USDT 2-hour chart | Source: TradingView
DOT / BTC
Trader @CryptoCapo_ sketched a DOT chart indicating that price is leaping up from the Golden Ratio Fib space and a bullish reversal is confirmed by a move above 67,000 Satoshis.
The supply: Twitter
Between July twelfth and twenty ninth (pink circle), DOT / BTC seems to have damaged beneath the 45,000 Satoshi resistance space.
However, it began rising shortly thereafter and hit the zone once more on August 1st, which is an especially bullish move as such deviations are often adopted by a pointy move in route.
This can be supported by technical indicators, particularly RSI and Stochastic Oscillator. The former has simply handed the 50 threshold and the latter has created a bullish cross.
The subsequent resistance is at 57,500 satoshis.
DOT / BTC day by day chart | Source: TradingView
You can see the BTC price right here.
Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis rigorously earlier than making a choice. We will not be answerable for your funding selections.
According to Beincrypto