POLKADOT - DOT/USD - Daily - Technical analysis published on 08/24/2024 (GMT)
- 156
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 5.76 USD
My targets
4.32 USD (-12.73%)
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 5.76 USD remains possible. It is advisable to trade POLKADOT - DOT/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 5.76 USD. The next bearish objective for sellers is set at 4.32 USD. A bearish break of this support would revive the bearish momentum. PS: if there is a bullish break in the resistance located at 5.76 USD 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.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.5
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by euletthomas. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The POLKADOT - DOT/USD price is 4.95 USD. The price has increased by +1.02% since the last closing and was traded between 4.85 USD and 4.95 USD over the period. The price is currently at +2.06% from its lowest and 0% from its highest.4.85
4.95
4.95
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by POLKADOT - DOT/USD:
Technical
Technical analysis of this Daily chart of POLKADOT - DOT/USD indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 11 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 4.32 | 4.95 | 6.50 | 7.61 | 8.78 |
| Change (%) | -12.73% | - | +31.31% | +53.74% | +77.37% |
| Change | -0.63 | - | +1.55 | +2.66 | +3.83 |
| Level | Major | - | Intermediate | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.47 | 4.58 | 4.74 | 4.85 | 5.01 | 5.12 | 5.28 |
| Camarilla | 4.83 | 4.85 | 4.88 | 4.90 | 4.93 | 4.95 | 4.97 |
| Woodie | 4.50 | 4.59 | 4.77 | 4.86 | 5.04 | 5.13 | 5.31 |
| Fibonacci | 4.58 | 4.68 | 4.75 | 4.85 | 4.95 | 5.02 | 5.12 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.51 | 3.86 | 4.12 | 4.47 | 4.73 | 5.08 | 5.34 |
| Camarilla | 4.20 | 4.26 | 4.31 | 4.37 | 4.43 | 4.48 | 4.54 |
| Woodie | 3.46 | 3.84 | 4.07 | 4.45 | 4.68 | 5.06 | 5.29 |
| Fibonacci | 3.86 | 4.10 | 4.24 | 4.47 | 4.71 | 4.85 | 5.08 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.79 | 4.57 | 4.98 | 5.76 | 6.17 | 6.95 | 7.36 |
| Camarilla | 5.06 | 5.17 | 5.28 | 5.39 | 5.50 | 5.61 | 5.72 |
| Woodie | 3.61 | 4.48 | 4.80 | 5.67 | 5.99 | 6.86 | 7.18 |
| Fibonacci | 4.57 | 5.03 | 5.31 | 5.76 | 6.22 | 6.50 | 6.95 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.06 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -4.30 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 4.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.00 | |
| Elder Ray (13): | 0.23 | |
| Super Trend (3,10): | 5.15 | |
| Zig ZAG (10): | 4.94 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 85.44 | |
| TEMA (21): | 4.58 | |
| Williams %R (14): | -2.70 | |
| Chande Momentum Oscillator (20): | 0.35 | |
| Repulse (5,40,3): | 6.8100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.8100 | |
| Courbe Coppock: | 0.37 |
| MA7: | 4.65 | |
| MA20: | 4.56 | |
| MA50: | 5.36 | |
| MA100: | 5.97 | |
| MAexp7: | 4.72 | |
| MAexp20: | 4.74 | |
| MAexp50: | 5.20 | |
| MAexp100: | 5.80 | |
| Price / MA7: | +6.45% | |
| Price / MA20: | +8.55% | |
| Price / MA50: | -7.65% | |
| Price / MA100: | -17.09% | |
| Price / MAexp7: | +4.87% | |
| Price / MAexp20: | +4.43% | |
| Price / MAexp50: | -4.81% | |
| Price / MAexp100: | -14.66% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis POLKADOT - DOT/USD - Daily