DOT hitting a new all time highInformation:
This is a blackckain system that allows
both for data and for cryptotokens and t
is build up on the based on the
Nominated Proof of Stake consensus
mode.
What is particularly interesting about this
blockchain is that it builds up a pathway
to transfer information between different blochchains.
Further development in this transfer system (parachains) would lead to
interoperability which is something blockchains does not have in the present day.
Position: Long
Entry price: 35,66
Target price 1: 49,50
Target Price 2: 69,47
Target Price 3: 96,73
% gain: P1: 38% P2: 94% P3: 171%
Indicators:
MACD: The MACD indicator indicates that an upwards trend is starting and that there is bullish movement where the MACD line has passed the signal line and the histogram is opening.
RSI: The RSI line is above 30 at 58,94 but below 70 which indicates that the token is moving forward at a high pace and there might be signs of the token being overbought.
Keltner Channels: The Keltner channels is showing that the trend is going upwards. The price is at the higher channel and indicates on somewhat of a price strength.
Fear and Greed: This indicator would indicate that the market has greedy investors and that the market is due for a correction.
Analysis:
The analysis indicated on bullish signals and a trending market and the general positive outlook with more positive mentions in social media showing that a long period is preferred. On the other hand does the Fear and Greed Index is showing a greedy investor climate, resulting in a consolidation period where there is a larger opportunity to make a significant trade.
An argument to be made for doing this trade is that RSI showing stronger signals and MACD is showing strong bullish signals.
This is not financial advice.
