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Polkadot Forum / Polkadot Retraces From $35 High, Poises for a New Uptrend
« on: October 14, 2021, 04:04:47 PM »
Since October 2, the price of Polkadot (DOT) has broken out above its moving averages as buyers push the altcoin to previous highs. Currently, buyers are meeting resistance at the $35 high.
The market is considered overbought at the recent high. Sellers are defending the recent high while pushing prices lower. The altcoin could retrace to the low of $32. In other words, the altcoin will fall and find support above the 21-day line SMA. Nevertheless, buyers will resume a new uptrend if the 21-day line SMA provides support. However, if the bears break below the 21-day line SMA, selling pressure will increase again as the altcoin falls into the downtrend zone. More information please click here
The market is considered overbought at the recent high. Sellers are defending the recent high while pushing prices lower. The altcoin could retrace to the low of $32. In other words, the altcoin will fall and find support above the 21-day line SMA. Nevertheless, buyers will resume a new uptrend if the 21-day line SMA provides support. However, if the bears break below the 21-day line SMA, selling pressure will increase again as the altcoin falls into the downtrend zone. More information please click here