Polkadot Upward Correction Faces Resistance at Level $12.20, May Slide down
Polkadot (DOT) Long-Term Analysis: Bearish
Polkadot’s (DOT) price is making an upward correction after falling to the low of $10.51. The upward correction is approaching the overbought region of the market. However, in the overbought region, sellers will emerge to push prices down. Meanwhile, on June 22 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT price will fall but reverse at level 1.272 Fibonacci extension or level $9.98. From the price action, DOT’s price has reached a low of $10.36.
Polkadot (DOT) Indicator Analysis
Polkadot is at level 37 of the Relative Strength Index period 14. It indicates that the altcoin is in the downtrend zone and below the…
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