POLKADOT DAILY UPDATE\$65.00 TARGET!!!
DAILY PRICE UPDATE
Polkadot (DOT) technical analysis:
Trade setup: Pullback following a breakout from Rising Wedge pattern. Pullback to near $40 could be an attractive entry area with upside potential to $60. (set a price alert). Recent move was sparked by announcement of parachain auctions.
Trend: Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $40. The nearest resistance is $50, then $55.
#dot #hodl #moon