Source: Tradingview*
With Polkadot (DOT) we see a similar progression as with Chainlink. Here, too, a slight recovery has begun, which unfortunately did not go beyond the 4H-EMA Ribbons, but was sold out again.
At the moment we are trading at about $ 7.80 in a clear downtrend, which at the same time represents enormous resistance. The volume has recently increased significantly, which is why a lot of positions were reopened at the monthly support S1.
We still have an inefficiency at about $ 5.50, which should be filled in the near future in order to bring liquidity to the market here as well. Thus, another dump is possible, but could then also be the last one before we should see a bottoming with an upcoming rally.
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