Crypto Technical Chart-Polkdot Market Outlook
As per crypto signal Since September 24, the upward move above the moving average has been interrupted as the altcoin declined. The crypto has fallen to the previous low at $25.52.Buyers are defending the current support as the altcoin resumes upward. However, if the bears break below the current support, the downtrend will resume.
Meanwhile, on September 21 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT/USD will fall to level 2.0 Fibonacci extension or level $13.11.
Polkadot (DOT) Indicator Analysis
The crypto’s price is below the moving averages suggesting a further downward movement of the coin. The RSI is also below 50 and it’s in a downward trend.
On the daily chart, it is also below 1 standard deviation Bollinger band zone. $33 is its immediate resistance and to move ahead, it has to cross this level. However, if it fails to cross $30 convincingly or goes below earlier support of $25, the altcoin may resume a further downtrend.