Polkadot Starts Forming Bottom Pattern

2 dic 2022

We will look at two more Altcoins that are starting to show early bottom/reversal signals, even if it is for just a relief rally.

First one is Polkadot (DOTUSDT), the other is The Sandbox (SANDUSDT).
Let's start with Polkadot.

We can see the rounded bottom in June/July before the upwards correction took place.
Now we are seeing a similar pattern with another bullish signal supporting it.

We have bullish divergence between DOTUSDT and the RSI.
A strong divergence started forming since August.

On the short-term side, we see prices trading above EMA10 and moving pass EMA21.
This happens while aiming at MA200 or $7.275 as potential target.
(A nice 30% potential growth).

We know that Polkadot moves together with Bitcoin... Almost all major Altcoins do.
So it is a positive signal when we see it go green as Bitcoin is correcting short-term.

Additional details on the chart (support & resistance levels).

Namaste.