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01.11.202406:21 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday November 01, 2024.

Relevance up to 22:00 2024-11-01 UTC--4

Exchange Rates 01.11.2024 analysis

The Polkadot cryptocurrency on its 4-hour chart is seen moving in a Ranging-Sideways condition but under Bearish pressure where this can be seen from its price movement which is moving below the MA 50 which also has a decreasing slope and its price movement moves harmoniously within the Bearish Pitchfork channel, especially coupled with confirmation of its price movement which successfully broke out below the Rising Wedge pattern which was followed by a breakout of the uptrend line in the Stochastic Oscillator indicator, even so with the position of the Stochastic Oscillator which has a BUY Crossing at the Oversold level and is getting ready to break up above its 20 level, there is a potential for a strengthening retracement in the near future where the 4.1411 level and/or Upper Pitchfork Line will be the main target, but as long as the strengthening does not break through and close above the 4.4432 level, Polkadot still has the potential to continue its weakening again where the 3.8261 level will be the main target and if the momentum and volatility support today, 3.5224 will be the next target to be aimed of.

(Dislcaimer)

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Arief Makmur,
Analytical expert of InstaSpot
© 2007-2024
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