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
) looked to regain bullish
levels after suffering negative breakouts to the oversold region while standing at 47.65.
The Schaff Trend Cycle
) 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.