tcr_thecoinrepublic

Polkadot Price Potential For Positive Breakout Above 50-EMA

Long
BINANCE:DOTUSD   DOT / US Dollar (calculated by TradingView)
The technical chart reflects on the positive bounce back made by the price levels of Polkadot after touching the critical support area of $7.00 due to a downtrend from the past couple of trading sessions. A positive breakout above the 0.382fib level can surely be a bullish indication for the crypto asset for upcoming market sessions. On the contrary, a negative breakout from the falling channel pattern might indicate the existence of the bears.

The Relative Strength Index ( RSI ) looked to regain bullish levels after suffering negative breakouts to the oversold region while standing at 47.65.

The Schaff Trend Cycle ( STC ) has indicated a buying signal during the current market session indicating potential positive momentum for the coin.

The Moving Average Convergence & Divergence ( MACD ) has formed a bullish crossover and the levels will be looking for a positive breakout above the histogram line.


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