An increase in bullish momentum in Polkadot market
DOTUSD Price Analysis – October 25
Polkadot may increase further and test the resistance level of $6.7. A breakout at the mentioned resistance level may push the price towards the resistance level of $7.6 and $8.3. Alternatively, an increase in the sellers’ momentum may push Polkadot below $6.0 which may reduce it to $5.6 and $4.0 support levels.
Resistance levels 6.7, 7.6, $8.3
Support levels: $6.0, $5.6, $4.0
DOTUSD Long-term Trend: Bearish
On the long-term outlook, DOTUSD is on the bearish movement. The momentum of sellers was increasing more than that of buyers last week. That is what terminated the ranging movement the crypto embarked. The support level of $6.0 was broken downside and tested the $5.6 level. At the moment, the buyers dominate the market of Polkadot with the formation of daily strong bullish candle. The price is risen above $6.0 level.
The fast Moving Average (9 periods EMA) is below the slow Moving Average (21 periods EMA) and the price is breaking the two EMAs as a sign of bullish movement. The crypto may increase further and test the resistance level of $6.7. A breakout at the mentioned resistance level may push the price towards the resistance level of $7.6 and $8.3. Alternatively, an increase in the sellers’ momentum may push the price below $6.0 which may reduce it to $5.6 and $4.0 support levels.
DOTUSD medium-term Trend: Bullish
DOTUSD is bullish on the 4-hour chart. Last week, the momentum of the Sellers and that of buyers seems to be equal and the price was consolidating. Today, buyers gain more momentum and the price is increasing above the $6.0, it is moving towards $6.7 level.
The 9 periods EMA is crossing the 21 periods EMA and the coin is trading above the two EMAs which indicate that bullish movement is ongoing in the Polkadot market. The relative strength index period 14 is at 70 levels with the signal lines pointing upside to indicate buy signal.
Each token of IMPT is currently traded for $0.018; this is the first phase of the IMPT presale. At the second phase the Impact tokens, it will be sold at $0.023 each. By the third stage, with high expectation the asset’s price may break the net.
The Dash 2 Trade presale experienced a shining beginning, in a short period of time it has raised in excess of $2m. At the beginning it was $0.0476, that is first stage, and currently it has increased to $0.05. The price may increase to $0.0513 at the third stage of the presale.