Polkadot Starts Forming Bottom Pattern
We will look at two more Altcoins that are starting to show early bottom/reversal signals, even if it is for just a relief rally.
First one is Polkadot (DOTUSDT), the other is The Sandbox (SANDUSDT).
Let's start with Polkadot.
We can see the rounded bottom in June/July before the upwards correction took place.
Now we are seeing a similar pattern with another bullish signal supporting it.
We have bullish divergence between DOTUSDT and the RSI.
A strong divergence started forming since August.
On the short-term side, we see prices trading above EMA10 and moving pass EMA21.
This happens while aiming at MA200 or $7.275 as potential target.
(A nice 30% potential growth).
We know that Polkadot moves together with Bitcoin... Almost all major Altcoins do.
So it is a positive signal when we see it go green as Bitcoin is correcting short-term.
Additional details on the chart (support & resistance levels).
Namaste.
First one is Polkadot (DOTUSDT), the other is The Sandbox (SANDUSDT).
Let's start with Polkadot.
We can see the rounded bottom in June/July before the upwards correction took place.
Now we are seeing a similar pattern with another bullish signal supporting it.
We have bullish divergence between DOTUSDT and the RSI.
A strong divergence started forming since August.
On the short-term side, we see prices trading above EMA10 and moving pass EMA21.
This happens while aiming at MA200 or $7.275 as potential target.
(A nice 30% potential growth).
We know that Polkadot moves together with Bitcoin... Almost all major Altcoins do.
So it is a positive signal when we see it go green as Bitcoin is correcting short-term.
Additional details on the chart (support & resistance levels).
Namaste.
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