DOT Analysis
Short term bullish on DOT, parachain auctions are coming on Nov 11, which will lead to increased buying pressure to lock up tokens.
Noticing high buy pressure in that 40 /41 range, indicating a medium level support. Next level of resistance would be 33.00, based on large spike from 33 to 42. (27%)
Above would be price discovery, and could aim for $56.45(2.618), however the ranging could happen here between 40.50 and 46.50 (edit)
Long Term Bullish on Polkadot. Shared L0 security protocol appears to be a competitive advantage.
Aiming for a retracement to DOT of 40 .25 to 41.55, and a TP of 48.00. [Edit: Changing TP to 46.50 because of resistance at that level. ]
Noticing high buy pressure in that 40 /41 range, indicating a medium level support. Next level of resistance would be 33.00, based on large spike from 33 to 42. (27%)
Above would be price discovery, and could aim for $56.45(2.618), however the ranging could happen here between 40.50 and 46.50 (edit)
Long Term Bullish on Polkadot. Shared L0 security protocol appears to be a competitive advantage.
Aiming for a retracement to DOT of 40 .25 to 41.55, and a TP of 48.00. [Edit: Changing TP to 46.50 because of resistance at that level. ]
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.