Polkadot Price Prediction: DOT Price Rejected by Bearish – Crypto News

By August 20, 2022Polkadot
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Polkadot course settled near $9.7, facing bearish rejection on the Golden Ratio resistance. But now DoT is getting support.

Polkadot Course Was Rejected Bearishly On Golden Ratio Resistance

DOT Price Chart from Tradingview

In Polkadot’s latest price prediction, just three days before the price of Polkadot peaked at around $9.7, we wrote: “Dot price is currently facing significant resistance at the golden ratio of $9.7, where DOT is rejecting course. can be done. Then DOT price may correct towards the $8.1 and $7.3 Fibonacci support levels.,

Since then, the Fibonacci support has moved slightly and Polkadot is now facing important support between the 0.382 Fibonacci level of $8.25 and the 50-days EMA around $8.4.

Moreover, the histogram of MACD on the daily chart is trading below bearish and the MACD lines are also crossed with a bearish divergence. RSI is neutral.

Polkadot now costs $7.4 . may be correct

DOT Price Chart from Tradingview

If DOT price bears break above the current support between $8.25 and $8.4, the next important Fibonacci support awaits Polkadot near the $7.4 level. Although this looks like a correction in the medium term, DOT price is still very bullish in the medium term.

The MACD histogram has been bullish for weeks and the MACD line is also crossing bullish. RSI is neutral here as well.

Will DoT cost even more?

DOT Price Chart from Tradingview

However, DOT price really turned bullish only when it quickly breaches the golden ratio near the 50-week EMA at $17.5 USD. If Polkadot breaks the bearish $7.4 support level, Polkadot may revisit the horizontal support between $6 and $6.8.

Polkadot will soon get support against BTC

DOT Price Chart from Tradingview

Against BTC, the MACD on the weekly chart is also clearly bullish as the histogram is moving up bullish and the MACD line is crossing bullish. Still, the DOT curriculum is in a short-term improvement.

At around 0.000352 BTC and around 0.000032 BTC, DOT course is facing significant Fibonacci support.

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