DOT Begins an Upside Correction, TAMA Explodes Skywards

Original author: Azeez Mustapha

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Signs from the DOT market are telling that this crypto has commenced a decisive upside value retracement. Furthermore, this is happening after the crypto’s price action has tested a strong support around $6.80 multiple times.

Polkadot Forecast Statistics Data:
Polkadot current price: $7.28
Polkadot market cap: $8.5 billion
Polkadot circulating supply: 1.12 million
Polkadot total supply: 1.23 billion
Polkadot Coinmarketcap ranking: #10

We shall further analyze the DOT/USD and DOT/BTC markets with the help of trading indicators. Also, signs from these indicators will be studied, and from them, we shall draw some conclusions this market. Furthermore, these conclusion will try to deduce which trading move should be taken.

Major Price Marks:
Top levels: $7.28, $7.65, $8.00
Bottom levels: $7.00, $6.50, $6.00

 

DOT Showing Encouraging Signs of Upward Price Retracement, Buy TAMA Today

Examining the DOT/USD 1-day price chart reveals that this crypto is very optimistic about reaching a significantly higher price level. On this chart, we can see that Bollinger is contracting to indicate an Impending move. Nevertheless, examining the Stochastic RSI reveals that this Impending trend will be an uptrend. Looking at the Stochastic RSI, we can view the curves of this Indicator converging towards each other following a minimal downward movement. Also, we can see that the last price candle is now in contact with Bollinger MA. Adding up all these Positive signs, traders in this market can expect that price action may reach near $8.50. Traders in this market can execute a buy order.

DOT Price Deduction: DOT/BTC Is Showing More Optimism

Carefully examining the DOT/BTC market we can see that this market is showing more positive signs of a more upward move. Here price candles has risen significantly above the MA line. And, this indicates that the price may even rise even higher than the present level

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In addition, the Stochastic RSI lines are currently trying to cross each other. This is occurring after the indicator curves bounce off the 100% mark towards the downside. However, this is just a minimal downward correction, as the lines of this Indicator are now crossing each other to signal price upward movement. Traders in This  market can also execute a buy order, as the value of this pair may soon reach 0.000400 value level.

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