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Price action in the DOT/USD market has been weak for the past four consecutive trading sessions. However, at this time, buyers seem ready to push the price to higher resistance.
Polkadot Analysis Statistics Information:
DOT price now: $6.37
DOTs market cap: $7.3 billion
Polkadot mobile supply: 1.13 billion
The total supply of Polkadot is 1.24 billion.
DOT’s Coinmarketcap Rank: #11
Also, the indicators applied to the analysis of this market predict that the prices will rise somewhat. Additionally, this analysis also includes the DOT/BTC market. So, without further ado, let’s begin.
Important price signals:
Resistance signs: $6.37, $6.67, $7.00
Support signals: $6.17, $5.80, $5.50
DOT exits lower limit, TAMA trending.
The most recent candle on the DOT/USD market managed to finish higher again, as the price adjusted from $6.05 to $6.37. As a result, the appearance of this candle has caused the RSI to cross over into the oversold. Additionally, these lines are now pointing upwards to indicate an upward trend. However, since the RSI is still below 50%, the trend can still be considered weak, and could be reversed if buyers lose momentum. Placing a pending buy order above the current price remains the best approach for traders looking for a buy entry. Should all the positive signs continue unabated, Polkadot’s price action could reach around $7.59.
Polkadot Price Analysis: The bulls in DOT/BTC look more aggressive
Here in the DOT/BTC market, the bulls are looking more aggressive in their moves as the price action increases rapidly to the upside. The last candlestick here was bullish which resulted in a bullish hammer candlestick that quickly took the price higher.
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Also, the Stochastic RSI appears to be significantly higher. However, these lines remain oversold, and this makes a downward trend reversal vulnerable. Therefore, traders can place any buy order near the Bollinger middle band and wait until it develops more strength before taking the trend. Finally, at this time, traders can expect the price to reach above 0.0003600.
Tamadoge has also been featured on BiInCrypto, NewsBTC and social media influencers. The above Jacob Crypto Bury purchase of TamaDog equivalent to 55.8 ETH was recorded on EtherScan on Sunday.
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