POLKADOT CHART ANALYSIS

Polkadot (DOT) has also seen a significant downward trend in the past few days after the entire crypto market was deep red on Friday. At the moment it seems like Polkadot has stabilized a bit and found a bottom.

Right now we're at around $ 33. On the 4H chart we can see that we have formed a bullish divergence in the RSI and are in the big green support zone.

After Bitcoin lost something again during the night, the Altcoins looked significantly worse again. Even so, Polkadot may have bottomed out here and is seeing a turnaround.

On the daily chart we can see that is Polkadot also against Bitcoin in the last days or weeks is already in a down trend. We are currently at approx. 0.00061 BTC.

Most recently we saw a bounce at the 200 SMA (last 200 average candles/purple) on the daily chart. The trading volume, and thus the bounce, were relatively weak, but this may also be due to the weekend and the uncertainty in the market.

We could go a little deeper into our red support zone to get a little more liquidity here and start a real turnaround. The RSI is now on the edge of the oversold area.

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