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Mastering Crypto

08/10 07:21

Polkadot price analysis

Polkadot has been trading between $5 and $5.65 for many days. Efforts to push the price above and below the range have been unsuccessful, indicating that bulls are buying the dips and bears are selling on rallies.

The bulls are trying to push the price above the moving averages but are facing stiff resistance from the bears. If the price turns down from the moving averages, it will increase the likelihood of a break below $4.83. If that happens, the DOT/USDT pair could descend to $4.60.

Alternatively, if bulls propel the price above the moving averages, it will suggest that the range remains intact. The pair could rise to $5.33 and subsequently to the overhead resistance at $5.64.1691652121006.png

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