DOT/USD are trading at 29.18 and continue to move within the correction and bearish channel. Moving averages indicate a short-term bullish trend for Polkadot. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop the growth in the value of a digital asset and a test of the resistance level near the 32.05 area. Where can we expect a rebound down again and the continuation of the fall in the Polkadot rate with a potential target below the level of 24.05.
Polkadot Forecast DOT/USD December 8, 2021
In favor of reducing the DOT/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the descending channel. Cancellation of the coin falling option will be a strong increase in the value of the asset and a breakdown of the 35.55 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 42.05. With the breakdown of the support area and closing of quotations below the level of 27.05, we should expect confirmation of the development of the bearish trend for Polkadot.
Polkadot Forecast DOT/USD December 8, 2021 suggests an attempt to correct and test the resistance area near the level of 32.05. Where can we expect a rebound and the continuation of the fall in DOT/USD to the area below the level of 24.05. An additional signal in favor of reducing Polkadot will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 35.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 42.05.
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