Summary of the analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on POLKADOT - DOT/USD. As long as you are under the resistance located at 5.74 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 5.65 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 5.49 USD as an objective. Crossing it would then enable sellers to target 5.33 USD. If the resistance 5.74 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
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The POLKADOT - DOT/USD rating is 5.73 USD. The price registered a decrease of -0.17% on the session with the lowest point at 5.56 USD and the highest point at 5.82 USD. The deviation from the price is +3.06% for the low point and -1.55% for the high point.
A study of price movements over other periods shows the following variations: The Central Records scanner for higher/lower results shows the following items:
Technical analysis of POLKADOT - DOT/USD in 1H shows an overall bearish trend. The signals given by moving averages are 64.29% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 8 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
|Parabolic SAR (0,02-0,02-0,2):||5.54|
|Elder Ray (13):||0.01|
|Super Trend (3,10):||5.89|
|Zig ZAG (10):||5.70|
|Williams %R (14):||-46.15|
|Chande Momentum Oscillator (20):||-0.04|
|Price / MA7:||-6.83%|
|Price / MA20:||-10.33%|
|Price / MA50:||-8.90%|
|Price / MA100:||-17.67%|
|Price / MAexp7:||+0.88%|
|Price / MAexp20:||+0.53%|
|Price / MAexp50:||-0.69%|
|Price / MAexp100:||-3.70%|
This member declared not having a position on this financial instrument or a related financial instrument.
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