POLKADOT - DOT/USDT - Weekly - Technical analysis published on 03/18/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 8.93 USDT
My targets
4.97 USDT (-25.42%)
4.29 USDT (-35.59%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 8.93 USDT remains possible. It is advisable to trade POLKADOT - DOT/USDT with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 8.93 USDT. The next bearish objective for sellers is set at 4.97 USDT. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 4.29 USDT. PS: if there is a bullish break in the resistance located at 8.93 USDT we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.3
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This analysis was given by domdufour. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The POLKADOT - DOT/USDT price is 6.66 USDT. Over 5 days, this instrument gained +13.05% and has been traded over the last 5 days between 5.77 USDT and 6.70 USDT. This implies that the 5 day price is +15.38% from its lowest point and -0.60% from its highest point.5.77
6.70
6.66
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of POLKADOT - DOT/USDT in Weekly shows an overall bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Weekly
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Weekly
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : Weekly
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 4.29 | 6.66 | 10.96 | 23.20 | 39.58 |
| Change (%) | -35.59% | - | +64.56% | +248.35% | +494.29% |
| Change | -2.37 | - | +4.30 | +16.54 | +32.92 |
| Level | Major | - | Minor | Minor | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.62 | 5.83 | 6.22 | 6.43 | 6.82 | 7.03 | 7.42 |
| Camarilla | 6.46 | 6.51 | 6.57 | 6.62 | 6.68 | 6.73 | 6.79 |
| Woodie | 5.72 | 5.88 | 6.32 | 6.48 | 6.92 | 7.08 | 7.52 |
| Fibonacci | 5.83 | 6.06 | 6.20 | 6.43 | 6.66 | 6.80 | 7.03 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.16 | 4.66 | 5.06 | 5.56 | 5.96 | 6.46 | 6.86 |
| Camarilla | 5.21 | 5.30 | 5.38 | 5.46 | 5.54 | 5.63 | 5.71 |
| Woodie | 4.11 | 4.64 | 5.01 | 5.54 | 5.91 | 6.44 | 6.81 |
| Fibonacci | 4.66 | 5.00 | 5.22 | 5.56 | 5.90 | 6.12 | 6.46 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.03 | 4.97 | 6.01 | 6.95 | 7.99 | 8.93 | 9.97 |
| Camarilla | 6.52 | 6.70 | 6.88 | 7.06 | 7.24 | 7.42 | 7.61 |
| Woodie | 4.09 | 5.00 | 6.07 | 6.98 | 8.05 | 8.96 | 10.03 |
| Fibonacci | 4.97 | 5.72 | 6.19 | 6.95 | 7.70 | 8.17 | 8.93 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 49.31 | |
| MACD (12,26,9): | -0.5000 | |
| Directional Movement: | -0.16 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 5.38 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.83 | |
| Elder Ray (13): | -0.17 | |
| Super Trend (3,10): | 4.16 | |
| Zig ZAG (10): | 6.67 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 49.37 | |
| TEMA (21): | 6.68 | |
| Williams %R (14): | -33.30 | |
| Chande Momentum Oscillator (20): | 2.18 | |
| Repulse (5,40,3): | 15.6000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -1.5500 | |
| Courbe Coppock: | 42.96 |
| MA7: | 6.21 | |
| MA20: | 6.12 | |
| MA50: | 6.39 | |
| MA100: | 5.71 | |
| MAexp7: | 6.29 | |
| MAexp20: | 6.33 | |
| MAexp50: | 9.11 | |
| MAexp100: | 12.81 | |
| Price / MA7: | +7.25% | |
| Price / MA20: | +8.82% | |
| Price / MA50: | +4.23% | |
| Price / MA100: | +16.64% | |
| Price / MAexp7: | +5.88% | |
| Price / MAexp20: | +5.21% | |
| Price / MAexp50: | -26.89% | |
| Price / MAexp100: | -48.01% |
Quotes :
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Real time data
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