DOT/USD are trading at 18.32 and continue to move within the correction and the bearish channel. The moving averages indicate a short-term bullish trend for Polkadot. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise already from current levels. At the moment, we should expect an attempt to develop an increase in the value of a digital asset and a test of the resistance level near the 20.05 area. Where can we expect a rebound down again and a continuation of the fall of the Polkadot rate with a potential target below the level of 12.05.
Polkadot Forecast DOT/USD February 4, 2022
In favor of the decline in DOT/USD quotes, a test of the descending 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’s fall option will be a strong increase in the value of the asset and a breakdown of the 22.45 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 28.55. With the breakdown of the support area and the closing of quotes below the level of 17.05, we should expect confirmation of the development of a bearish trend in Polkadot, which will indicate a breakdown of the lower border of the bullish correction channel.
Polkadot Forecast DOT/USD February 4, 2022 suggests an attempt to correct and test the resistance area near the level of 20.05. Where should we expect a rebound and a continuation of the fall of DOT/USD to the area below the level of 12.05. An additional signal in favor of Polkadot decline 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 22.45 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 28.55.
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