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Polkadot Price Prediction for Today, August 23: DOT Is Down in Ranges

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Polkadot Price Prediction – August 23
It presently shows that the DOT/USD market holds under some resistance as the crypto economy is down in ranges. The crypto’s financial book of records has witnessed a low of $7.02 and a high of $9.15 in the last seven days of trading sessions. The market’s percentage rate is at 1.75 negatives.

Polkadot (DOT) Statistics:
DOT price now – $7.26
DOT market cap – $8.1 billion
DOT circulating supply – 1.1 million
DOT total supply – 1.2 billion
Coinmarketcap ranking – #11

DOT/USD Market
Key Levels:
Resistance levels: $10, $12, $14
Support levels: $5, $4, $3
DOT/USD – Daily Chart
The DOT/USD daily chart reveals the crypto-economic market is down in ranges characterized by $10, $7.50, and $5 value lines. The upper range line drew at the higher point while the lower range line is at the smaller point of those number values. The 14-day SMA indicator is at 8.10 beneath the 50-day SMA indicator, which is at $9.40. The Stochastic Oscillators are dipped in the oversold region, maintaining 8.29 and 6.14 range points within.

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Are there reliable downward pushing forces in the DOT/USD trade operations?

Currently, it appears that the DOT/USD market has pushed lowered to a zone where further reliable downward pushes may easily not impair as it is even though apparent that the crypto economy is down in ranges. It may take a while before active rebounding motions can occur below the trend line of the 14-day SMA’s sell signal side. In the meantime, long-position placers may have to be alert while price tends to make an upward move between $5 and $7.50 points before considering a buying order.

On the downside of the technical analysis, sellers in the DOT/USD market, have to be cautious of exerting new shorting order at this point as it has appeared that the forces to the downside are noticeably getting reduced gradually by the reading of the Stochastic Oscillators’ outcome. Based on that assumption, short-position placers would have to put their actions on hold for a while.

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DOT/BTC Price Analysis

Polkadot’s trending pace compared with Bitcoin’s has maintained training within definite range-bound zones. Presently, the currency pair market is down in ranges. The 14-day SMA indicator has briefly crossed southward away from the 50-day SMA indicator. The Stochastic Oscillators have penetrated the oversold region at average range points of 7.69 and 5.54. It may take some time before the base crypto may tend to pull up for upswings against its counter-trading crypto.

 

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