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11.11 - 13:03
Polkadot needs assurance on these counts before making a new ATH
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Polkadot’s rising wedge was coming to a conclusion following tepid price action over the past two weeks. With bearish divergences spotted on the RSI along with unfavorable readings on the MACD, DOT stared at the barrel of a 30% sell-off towards the $28.5 mark.
To change the tide, bulls would need to carry DOT’s 24-hour surge above a supply zone of $46.3-$49.5. Until then, chances of a retracement cannot be discounted. At the time of writing, DOT traded at $45.3, up by 9% over the last 24 hours.
Source: DOT/USD, TradingView
Polkadot’s rising wedge began to take ship since late August after the price maintained its streak of higher highs and higher lows heading into November. However, the pattern is usually susceptible to breakdowns once
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