Polkadot (DOT) Price Breaks Above the Resistance Levels, Faces Rejection at $44

Polkadot (DOT) Price Breaks Above the Resistance Levels, Faces Rejection at $44

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot (DOT) price is making an impressive upward move. Buyers have broken the resistance at $40 and $42. Nonetheless, if the current bullish momentum is sustained, DOT price will reach a new high of $48. However, in the previous price action on April 5 and 17, DOT prices reach the highs of $45 and $48 and were repelled. The altcoin fell to the range-bound zone and resume fluctuations between $28 and $40. Today, an uptrend is facing resistance at the recent high.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
. The altcoin has risen to level 60 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone above the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4 -hour chart, DOT price is in a strong uptrend. The price has broken the initial resistance level. On May 5 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that DOT is likely to rise to level 1.272 Fibonacci extension or the high of $42.69. The market is expected to reverse at the recent high.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. DOT price has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the price movement.

General Outlook for Polkadot (DOT)
DOT/USD is presently in an upward move. Buyers have pushed DOT price above the resistance level but may not sustain the bullish momentum. The selling pressure above the resistance is overwhelming. Besides, the altcoin is likely to fall as it reaches the overbought region of the market.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Slumps Further After The Formation Of Bearish Double Top Pattern

Polkadot (DOT) Slumps Further After The Formation Of Bearish Double Top Pattern

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot’s price is in a downward move after buyers retested the $48 overhead resistance. The retesting of the overhead resistance on April 5 and 18, suggests the formation of a bearish double top pattern. This bearish double top pattern will cause the DOT price to fall. Today, the market has fallen to the low of $27.50 and it pulled back. There is the tendency of price falling on the upside.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
DOT price has fallen below the 21-day SMA and the 50-day SMA which suggests that the coin is in the bearish trend zone. It implies that the coin is capable of falling on the downside. DOT/USD is also at level 37 of the Relative Strength Index period 14. It indicates that the coin is approaching the oversold region of the market.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the altcoin is in a downward move. On April 18 downtrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to fall to level 1.618 Fibonacci extension or the low of $21.70. From the price action, the market has fallen to the low of $29.65 at the time of writing.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 40% range of the daily stochastic. It is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) has a bearish double top formation. The implication is that the coin will further depreciate on the downside. According to the Fibonacci tool, the market will fall to the low of $21.70.


You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Is Stuck Below $46 As Price Fluctuates Between $38 And $44

Polkadot (DOT) Is Stuck Below $46 As Price Fluctuates Between $38 And $44

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
For the past week, DOT price has been in a sideways move after its rejection at the $46 high. Today, the Polkadot is in a downward correction as price fluctuates between levels $38 and $44. In the previous week, buyers pushed the DOT price to the high of $46 but were resisted. DOT price pulled back and retested the recent high. There was a bearish reaction as the altcoin plunged to $38 low. Today, the crypto fluctuated between the range-bound levels. A retest at $46 overhead resistance is possible if price breaks above the minor resistance at $44.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
DOT price is above the 21-day SMA and the 50-day SMA which indicates a possible rise in price. The altcoin is at level 57 of the Relative Strength Index period 14. DOT is in the uptrend zone and capable of rising.


Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is in a consolidation. On April 3 uptrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $58.44.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 80% range of the daily stochastic. It is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is range-bound as price faces rejection at level $46. DOT price is expected to resume upward. According to Fibonacci tool, DOT will rise to $58.25 high if the $46 resistance is breached.

You can purchase crypto coins here: Buy Coins  



Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Breaks Resistance At $40, Resumes Uptrend

Polkadot (DOT) Breaks Resistance At $40, Resumes Uptrend

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Bullish
On April 2, buyers pushed DOT price above the $40 resistance. The altcoin rallied to $46.74 high but was resisted. With this breakout, the crypto has broken the range movement of February 20. However, for the past 48 hours, the coin fell to the previous low above $40 and it is resuming upward. The upward move is facing another rejection at the $42 high. Buyers are currently defending the $40 support level. On the upside, if buyers clear the $42 resistance, the market will rally above $53 high. Conversely, if the bears break the $40 support, DOT will fall into the range-bound zone. Perhaps the coin will retest the previous low at $28.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. DOT has risen to level 57 of the Relative Strength Index period 14. DOT is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is making an upward move. DOT price broke the $40 resistance but retraced back to the $40 support. Meanwhile, on April 3 uptrend, a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $58.32.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. The stochastic bands are sloping downward. It indicates that DOT is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) price is likely to trend upward if bulls clear the resistance at $42. The crypto’s price is above the 21-day and 50-day SMAs which indicates a possible rise of the coin.

You can purchase crypto coins here: Buy Coins



Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Price Retests the $40 Overhead Resistance, May Continue Sideways Move

Polkadot (DOT) Price Retests the $40 Overhead Resistance, May Continue Sideways Move

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
For the past week, the DOT price has been rising towards the $40 overhead resistance. Today, the brief uptrend has reached bullish exhaustion. The overhead resistance is resisting a further upward move. The crypto will eventually fall because of the resistance at the recent high. This has been the price action since February 20. Each time the coin is repelled the market will fall to the lower range. DOT/USD price is fluctuating between $28 and $40. Polkadot will trend if buyers breach the $40 overhead resistance. The sideways trend will continue if the overhead resistance remained unbroken.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally. The crypto’s price is above the SMAs which indicates a possible rise in price. DOT has risen to level 55 of the Relative Strength Index period 14. DOT is in the uptrend and is capable of rising on the upside.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is in an upward move. The Fibonacci tool has indicated an upward movement of the coin. On March 31 uptrend; a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $41.16.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. It indicates that the pair is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) price is still range-bound between levels $28 and $40. The upward move is doubtful because of the resistance at $40. More so, DOT price is in the overbought region of the market. The crypto is likely to fall based on the price action.

You can purchase crypto coins here: Buy Coins 

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Breaks $28 Support Level, May Resume the Uptrend

Polkadot (DOT) Breaks $28 Support Level, May Resume the Uptrend

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
On March 20, DOT attempted to breach the $40 resistance but were repelled. Consequently, the bears push the crypto to $28 low. This resulted in breaking the lower price range. The recent support is holding as bulls buy the dips. This is a bullish signal for range-bound traders who can initiate long trades at the lower price range. This trade can be exited near the resistance zone. Nevertheless, if the bulls face rejection at the resistance zone, a short trade can also be initiated. This can be closed near the support zone. This trading can be done consistently until the coin resumes trending.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally. DOT is fallen to level 40 of the Relative Strength Index period 14. This indicates that the pair is in the downtrend zone. It is likely to fall as it is in the bullish trend zone.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the altcoin is in a downward move. The crypto has already fallen to the $28 low. The Fibonacci tool has indicated a further downward movement of price if the current support is breached. On March 24 downtrend, the crypto dropped to $28. The retraced candle body tested the 78.6% retracement level. This indicates that DOT is likely to fall to level 1.272 Fibonacci extension or the low of $25.92.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 25% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping southward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) has fallen to the lower price range. If the support holds, the range-bound movement will resume. DOT is trading at $30.68 at the time of writing. From every indication the range-bound movement will continue as there are bullish signals.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Is Range Bound Between $28 and $40, a Breakout or Breakdown Is Imminent

Polkadot (DOT) Is Range Bound Between $28 and $40, a Breakout or Breakdown Is Imminent

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
For the past month, DOT has been in range-bound movement because of rejection at the recent high. The cryptocurrency is facing rejection at the $40 high. The crypto is fluctuating between $28 and $40. DOT will resume an uptrend if the $40 overhead resistance is breached. Conversely, if the bears break the $28 support, the market will decline to $16 low. Meanwhile, the coin is likely to rise, if the crypto’s price is sustained above the moving averages.

DOT – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the previous upward. Dot price may rise as it is above the SMAs. DOT is at level 54 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and it is capable of rising on the upside.

Polkadot (DOT) Medium-term Trend: Ranging
On the 4-hour chart, the altcoin has resumed a range bound movement between $32 and $38. Since February 20, the price has been fluctuating between the range-bound level. A range-bound trader can initiate a short order at the resistance level and exit near the support. Similarly, a long order can be initiated at the support, while you exit close to the résistance zone. Presently, the price is in the middle of the chart.

DOT – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping horizontally indicating the sideways trend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is yet a trend as crypto continues its range-bound movement. The coin may soon encounter a price breakout or breakdown. The bulls will be on advantage if the price is sustained above the moving averages.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Is in a Sideways Trend, Fluctuates Between $36 and $38

Polkadot (DOT) Is in a Sideways Trend, Fluctuates Between $36 and $38

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
DOT price is presently stuck below $38 for the past two days. The coin is now fluctuating between $36 and $38. Buyers were able to push the crypto to the high of $40 but could not sustain the uptrend. The price was repelled after reaching the overbought region. Presently, the price is falling toward the lower price range. If it breaks below $36 support; it will further decline to $34 low. However, if the $36 support holds, the crypto will continue its range bound movement between $36 and $38.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating upward. However, the market is presently in a sideways move. DOT is at level 60 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the pair rose to $40 high but was resisted. DOT fell to a $36 low and resumed a sideways trend. On March 11 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.272 Fibonacci extension or the low of $34.95 and reverse.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is currently below the 40% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is presently consolidating between $36 and $38. According to the Fibonacci tool, the market will further decline to 1.272 Fibonacci extension or the low of $34.95. Thereafter, the cryptocurrency may resume upward.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Hovers above $32 Support, May Resume Upward

Polkadot (DOT) Hovers above $32 Support, May Resume Upward

Key Resistance Levels: $35, $37.50, $40
Key Support Levels: $25,$22.50,$20

Polkadot (DOT) Price Long-term Trend: Bearish
Presently, Polkadot is in an uptrend. In the first uptrend, the coin was resisted at $40 and it retraced to $30 low. Buyers pushed the coin upward for the second time and were repelled at the resistance zone. The crypto is likely to find support above the 21-day SMA. On February 20, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT will rise to reach level 2.0 Fibonacci extension or the high $61.21.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMAs are sloping upward indicating upward. DOT is at level 56 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bearish
On the 30-mins chart, the pair is in a downward move. The coin fell to $32 low and corrected upward. The upward correction was short-lived as the crypto resumes downward. Nonetheless, if the coin falls and breaks below $32, the selling pressure will persist. On March 5 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.618 Fibonacci extension or the low of $30.05 and reverse. From the price action, DOT is hovering above $32 support for a possible reversal.

DOT/USD – 30-Mins Hour Chart

4-hour Chart Indicators Reading
The altcoin is currently below the 30% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping downward indicating a downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is still retracing after the second rejection from the resistance zone at $40. The upward movement will resume if DOT finds support either above $32 or $30. At the same time, the bulls have to break the $40 overhead resistance. According to the Fibonacci tool, DOT has a target price of $61, if the current resistance is breached.


You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Have you invested in an extremely rare opportunity of a lifetime?

Have you invested in an extremely rare opportunity of a lifetime?

The Next “Buzz Word” Altcoins
Last month, the Bloomberg Galaxy Crypto Index was at 1414.37, following a low of 217.82 in early March. BTC had made a new high yesterday at $51,630.86. Today (February 17) and the index was at 2,295.61. That’s a huge gain for one month.

Let me put this into perspective. In late 2017, I said that cryptoassets were the biggest institution revolution since the Industrial Revolution and that they represented the investment of a lifetime. Institutions, however, were not ready or capable of participating in that revolution so they “pooh-poohed” it. The SEC decided that most altcoins were securities which precipitated a huge bear market. By the end of 2018, cryptos had undergone an 85% decline and BTC hit a low price of $3,236.76 on Dec 15, 2018. But then look what happened.
BTC was up 92.71% in 2019
It was up 305.94% in 2020
And it’s up 75.42% in less than 50 days of 2021….

What did I say in 2018? There was actually a period from October through November last year when I made over $3 million in 7 weeks. Cryptos are the investment of a lifetime.

While BTC could go up another 10 fold in the long run, I doubt that it will go much over $100,000 this year…. But the opportunity of a lifetime is not over because now the altcoins are starting to move. Here are a few examples, and this is just the movement in 2021.

BNB 289%
ETH 144%
LINK 178%
SNX 215%
AAVE 397%
CND 145%

And remember those gains are just from the 48 days of 2021….

You can purchase crypto coins here.  

Update on Cryptoassets
I think that there are a number of altcoins that could go up 10 times or more during the rest of 2021. Now we might have a decline of 40% or more during the year, but it probably will be short-lived with a very quick recovery…
BTC was up 92.7% in 2019, 305.94% in 2020, and in the first six weeks of 2021, it’s up 74.22%. Let’s contrast that with the other hedge against the USD and disaster, gold. Gold was up 20.94% in 2019, up 18.32% in 2020, and it’s down 5.1% so far in 2021. The path of safety is now BTC.

Gold has about 10 times more market cap than cryptos right now (even though cryptos are now over a trillion for the 1st time). If all of the money in gold went into BTC, BTC’s price would be about $370,000…

People talk about BTC being volatile and risky. But where can you find something that has made over 1,000% in 3 of the last 11 years, over 100% in 8 of them, and had only two losing years? There is only one other place than BTC with anywhere near equal performance – other cryptoassets.
If you had bought BTC at the beginning of 2012 (well, not at the very beginning), you would have turned $1,000 into more than $7.1 million (up $4.5M last month)…

Remember these are 30-day percent gains. This is probably the easiest market possible to make a lot of money. You could, however, just as easily enter a position and immediately have a 25% drawdown – which could cause you to exit and then miss out on some nice gains. If you don’t have strong beliefs about cryptos like I do, crypto volatility will test you…

This newsletter makes no recommendations about cryptos but is a free service… I personally own positions in most of the cryptos mentioned in this newsletter.

Author: Van K. Tharp, PhD

Note: This article was culled and abridged from a monthly cryptos update by Dr. Van Tharp. The full article can be accessed here.

You can purchase crypto coins here. 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.