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Polkadot Price Prediction: DOT price bearishly dismissed

 


The polkadot course reached around USD 9.7, encountering bearish rejection at the golden ratio resistance. But now DOT is finding support.


The polkadot course was rejected in a bearish manner at the golden ratio resistance

In the latest Polkadot Price Forecast , just three days before the Polkadot price peaked at around $9.7, we wrote: “The DOT price is currently facing significant resistance at the golden ratio around $9.7, where the DOT course could be dismissed. Then the DOT price could correct to the Fibonacci supports at around USD 8.1 and USD 7.3. "


Since then, the Fibonacci supports have shifted slightly and Polkadot now faces significant support between the 0.382 Fib level at around $8.25 and the 50-day EMA at around $8.4.


In addition, the histogram of the MACDs in the daily chart is ticking bearishly lower and the MACD lines are also crossed bearishly. The RSI is neutral.


The polkadot price could now correct to $7.4

If the DOT price bearishly breaks the current support between USD 8.25 and USD 8.4, the next significant Fibonacci support awaits Polkadot at around USD 7.4. Although it looks like a correction in the medium term, the DOT price is still very bullish in the medium term.


The MACD histogram has been ticking bullishly higher for weeks and the MACD lines are also bullishly crossed. The RSI is also neutral here.


Will the DOT price fall even lower?


However, the DOT price is only really bullish when it bullishly breaks the golden ratio at the 50-week EMA at around USD 17.5. If Polkadot bearishly breaks the support around $7.4, Polkadot could return to the horizontal support between $6 and $6.8.


Polkadot will soon find support against BTC

Against BTC, the MACD in the weekly chart is also clearly bullish, because the histogram is ticking bullishly higher and the MACD lines are bullishly crossed. Nevertheless, the DOT price is in a short-term correction.


At around 0.000352 BTC and around 0.000032 BTC, the DOT price encounters significant Fibonacci supports.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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