Polkadot Price Prediction – July 24
The Polkadot market price is maintaining range moves within the $5 and $10 value lines, for several weeks so far. The price is trading at a positive percentage rate of 1.23, or around $7 at the time of writing.
Polkadot (DOT) statistics:
DOT Price Now – $7.42
DOT Market Cap – $7.3 Billion
DOT Circulating Supply – 987.6 million
Total DOT supply – 1.1 billion
Coinmarketcap Ranking – #12
DOT/USD market
Key levels:
Resistance levels: $10, $12, $14
Support Levels: $5, $4, $3
GMT/USD – Daily Chart
The daily DOT/USD chart reveals that the crypto market is holding range moves within the $5 and $10 value lines as horizontal lines draw to mark the dots. The 14-day SMA indicator is below the 50-day SMA. And they are respectively at $7.32 and $10.35 in different value lines. Stochastic oscillators briefly crossed south from the overbought region against the 80 range.
Is it worthy to trade in the current DOT/USD way with a range bound trading style?
The Current range-bound DOT/USD trading mode The style has been somewhat difficult to observe a clear position entry as the price of the crypto has been holding range moves within the $5 and $10 value lines for a few weeks now. However, shorter timeframes such as 1 hour and 4 hours can play a big role in determining what price tends to do in the next few hours from a particular trading location at any given time.
On the downside of the technical analysis, the bears in the DOT/USD market may have the advantage of driving the price down from the trading area below the 50-day SMA trendline, as it maintains a value point of resistance of $10.35. A sudden and frightening breakout at this point seems unrealistic from current perspectives. If this happens, it will most likely allow the short placers to set up to start looking for a higher resistance level that can give back to a correction to push back into a downtrend move thereafter.
DOT/BTC Price Analysis
In comparison, Spotted is relatively down from Bitcoin’s trending capacity in defined range-bound areas. At the time of writing, the price of the cryptocurrency pair maintains range moves within the drawn upper and lower horizontal lines. The 50-day SMA indicator lines up with the upper horizontal line above the 14-day SMA indicator, which sits between the range bound dots. The Stochastic Oscillators crossed south from the 80 range to the 40 range, apparently trying to cross north. This indicates that the base crypto is somewhat struggling not to care about its counter-exchange crypto.
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