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Market

DOT is at the decision point to increase 25% or drop to $16.12

February 20, 2022 - Around 2 mins mins to read

Polkadot price has been in a downtrend since its initial rally to a local high on February 8th. By February 19, DOT had broken below one of two key support levels to gather liquidity, indicating a possible upside.

DOT is at the decision point to increase

Crucial moment for DOT

DOT is down 24% since Feb 8 and slipped below the $19.22 support, paving the way for sell stop liquidity below $17.97. This flushing of liquidity is often followed by a rise in prices.

Therefore, investors can expect DOT to initiate an uptrend to retest the recent hurdles that flipped at $17.97 and $21.2. Clearing these levels would allow DOT price to reach $22.65 which would bring the total gain to 25%.

In a favorable case, DOT can scale up and revisit the 4-hour supply zone that stretches from $23.93 to $25.59. The move would bring the overall gain to 32%.

A possible alternative upside scenario is for DOT price to drop lower and take another set of sell stops below $17.14.

DOT is at the decision point to increase 25 or

 Source: TradingView

If the four hour candle closes below $17.15, it will create a lower low and invalidate the bullish thesis. In this situation, panicked holders can take the DOT price lower and towards $16.12. This is where the marginal buyers can enter the market and continue the uptrend.

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

DOT is at the decision point to increase 25% or drop to $16.12

Polkadot price has been in a downtrend since its initial rally to a local high on February 8th. By February 19, DOT had broken below one of two key support levels to gather liquidity, indicating a possible upside.

DOT is at the decision point to increase

Crucial moment for DOT

DOT is down 24% since Feb 8 and slipped below the $19.22 support, paving the way for sell stop liquidity below $17.97. This flushing of liquidity is often followed by a rise in prices.

Therefore, investors can expect DOT to initiate an uptrend to retest the recent hurdles that flipped at $17.97 and $21.2. Clearing these levels would allow DOT price to reach $22.65 which would bring the total gain to 25%.

In a favorable case, DOT can scale up and revisit the 4-hour supply zone that stretches from $23.93 to $25.59. The move would bring the overall gain to 32%.

A possible alternative upside scenario is for DOT price to drop lower and take another set of sell stops below $17.14.

DOT is at the decision point to increase 25 or

 Source: TradingView

If the four hour candle closes below $17.15, it will create a lower low and invalidate the bullish thesis. In this situation, panicked holders can take the DOT price lower and towards $16.12. This is where the marginal buyers can enter the market and continue the uptrend.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page