Dot is in a downtrend and there is a possibility for the market reversal from this zone of range. Right now, we dont have any solid direction for the polkadot to predict the exact direction for the bearish or bullish move. We will just be taking the position within the range.

The descending trendline has been broken out for buys and has been validated after the breakout. Once the breakout has happened, market has been ranging, Now, we anticipate the mark up towards the bullish side.

The retracement level of 61.8% is in confluence with the support level. This will engage as a markup for the price on this crypto.

The EMA 50 has been bearish in the downtrend. But we still have the potential for the market to retest the EMA 50. There is a chance for the market to break the EMA 50 and continue moving up.

RSI is at 70. Market is just 5 points away from the over bought region. Market has to tap down to the neutralized levels of 50 in order for the market to continue moving up which we need to assess as well.

What a bullish move on DOT

Dec 04 2022