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Mastering Crypto

08/24 12:19

Polkadot price analysis

The bears tried to tug Polkadot below the vital support at $4.22, but the bulls held their ground as seen from the long tail on the Aug. 22 candlestick.

The 20-day EMA ($4.73) is turning down and the RSI is in the negative zone, indicating that bears hold the edge. If buyers want to signal a comeback, they will have to propel the price above the overhead zone between $4.56 and the 20-day EMA.

Meanwhile, the bears are likely to have other plans. They will try to sell on minor rallies and pull the price below $4.22. If they succeed, the DOT/USDT pair could start the next leg of the downtrend. The next support is at $4.1692879562246.png

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