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DOT Starts Its Upwards Value Retracement, TAMA Is Getting Hotter and Hotter

DOT Starts Its Upwards Value Retracement, TAMA Is Getting Hotter and Hotter
DOT Starts Its Upwards Value Retracement, TAMA Is Getting Hotter and Hotter

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In the DOT/USD market price actions has been bearish for the last four consecutive trading session. Nevertheless at this point buyers seems prepared to push the price towards higher resistance.

Polkadot Analysis Statistics Data:
DOT value now: $6.37
DOTs market cap: $7.3 billion
Polkadot’s moving supply: 1.13 billion
The overall supply of Polkadot’s: is 1.24 billion
DOT’s Coinmarketcap ranking: #11

Also, indicators applied in the analysis of this market somewhat predict that prices will climb higher. Additionally, this analysis will as well include the DOT/BTC market. So, without no further delay let’s begin.

Crucial Price Marks:
Resistance Marks: $6.37, $6.67, $7.00
Support Marks: $6.17, $5.80, $5.50

DOT Starts Its Upwards Value Retracement, TAMA Is Getting Hotter and Hotter

DOT Bounces off Lower Limit, TAMA Is Trending

The most recent candle on the DOT/USD market has been able to initiate an upward retracement, as price corrects upward from $6.05 to $6.37. Consequently, the appearance of this candle has caused the RSI to cross each other in the oversold. Furthermore, these lines are now facing upwards to signify an uptrend. However, since the RSI are still below the 50% level, the trend can still be considered weak, and may reverse should buyers lose momentum. Placing a pending buy order at higher levels than the current price remains the best approach for traders seeking a buy entry. Should, all the positive signs continued undiminished, Polkadot’s price action may reach around $7.59.

DOT Starts Its Upwards Value Retracement, TAMA Is Getting Hotter and Hotter

Polkadot Price Analysis: Bulls in DOT/BTC Seems More Powerful

Here on the DOT/BTC market, the bulls are appearing more powerful in their move, as price action rises upwards more quickly. The last candlestick here was bullish which quickly snatches the price to the upside following the appearance of a bearish hammer candle.

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Also, the Stochastic RSI appears to be rising steeply upwards. Nevertheless, these lines remain oversold, and this makes the trend prone to a downward reversal. Therefore, Traders can wait for the trend to develop more strength before catching it by placing any buy order near the middle band of the Bollinger. Finally, at this point traders can anticipate the value to reach above 0.0003600.

Tamadoge has also been highlighted by Bitcoinist, BeInCrypto, NewsBTC, and crypto influencers across social media. Jacob Crypto Bury above notes that a Tamadoge purchase equivalent to 55.8 ETH was recorded on Etherscan on Sunday.

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