Polkadot remains weak, barely holding onto the round $4 mark on Friday. Primarily, we soon expect another sell-off below the support at $3.67 and into the orange Target Zone between $2.40 and $1.07. Once the low of the magenta wave [ii] is reached down there, the next major impulsive movement can start and carry the price back above the resistance at $5.38. If Polkadot turns sustainably upward now and directly breaks through the $5.38 mark, the next magenta impulse wave alt.[1] will begin prematurely. In this 20% likely alternative scenario, the corrective structure (still ongoing according to the primary scenario) would have already been completed with the low of March 11.
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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.