POLKADOT – DOT/USD – 1H – Technical analysis published on 11/12/2022 (GMT)

By November 12, 2022Polkadot
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POLKADOT - DOT/USD - 1H

Summary of the analysis

My 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.

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Additional analysis

Quotes

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

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.

S3S2S1PriceR1R2R3
ProTrendLines 5.33 5.49 5.65 5.73 6.22 6.66 6.97
Change (%) -6.98% -4.19% -1.40% - +8.55% +16.23% +21.64%
Change -0.40 -0.24 -0.08 - +0.49 +0.93 +1.24
Level Intermediate Intermediate Minor - Major Minor Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

RSI (14): 48.82
MACD (12,26,9): -0.0200
Directional Movement: -4.22
AROON (14): -21.43
DEMA (21): 5.67
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
VORTEX (21): 1.0800
Stochastique (14,3,5): 49.38
TEMA (21): 5.68
Williams %R (14): -46.15
Chande Momentum Oscillator (20): -0.04
Repulse (5,40,3): 0.1400
ROCnROLL: -1
TRIX (15,9): -0.0700
Courbe Coppock: 0.79
MA7: 6.15
MA20: 6.39
MA50: 6.29
MA100: 6.96
MAexp7: 5.68
MAexp20: 5.70
MAexp50: 5.77
MAexp100: 5.95
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.

About author

I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…

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