Polkadot Price Prediction – May 19
There has been a continued state of affairs of failing striving efforts within the DOT/USD market actions over a long-term session because the crypto-economic worth hasn’t stopped declining. As of writing, the value is buying and selling round $10 at 7.29% positives.
Polkasot (DOT) Stastics:
DOT worth now – $10.15
DOT market cap – $10.1 billion
DOT circulating provide – 120.8 million
DOT complete provide – 1.1 billion
Coinmarketcap rating – #11
Resistance ranges: $12, $14, $16
Support ranges: $8, $6, 44
GMT/USD – Daily Chart
The day by day chart reveals the DOT/USD market hasn’t stopped declining for the reason that bearish buying and selling cycle resumed till now. The higher bearish development line is drawn southward alongside the smaller SMA buying and selling software. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators have moved northbound from the oversold area, attempting to level to the north aspect intently beneath the vary of 80.
Where is the resistant spot to the DOT/USD market presently?
The resistant buying and selling spot of the DOT/USD market can observe across the factors of $12 and $14 within the long-term run because the crypto commerce hasn’t stopped declining. Upward momentum gathering on the present buying and selling value-line lacks a great drive to push sustainably. As it is now, long-position takers may want to keep off the buying and selling for some time till the value experiences an oversold situation earlier than contemplating a shopping for order.
On the draw back of the technical evaluation, because it has envisaged, promoting stress could re-surface across the smaller SMA development line that concerned the $12 and $14 resistance ranges. The $8 help degree is the vital line in opposition to seeing extra downs. A breach of the purpose to the south aspect could rise to an extra fearful sell-off state of affairs. While within the meantime, the present buying and selling tempo portends an opportunity for a great funding time.
DOT/BTC Price Analysis
In comparability, Polkadot is nonetheless attempting to push for a stance in opposition to Bitcoin. The cryptocurrency pair market hasn’t stopped declining as differential candlesticks have been forthcoming beneath the development strains of the SMAs. The 14-day SMA buying and selling indicator is beneath the 50-day SMA buying and selling indicator. The Stochastic Oscillators are within the overbought area, attempting to bend southbound in opposition to the vary of 80. The verdict states the bottom crypto tends to lose some stances to its counter crypto.
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