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Polkadot bounced back from the support of $32.32
- Polkadot slips below $38.07 to $33.98 on Tuesday’s trading session
- The 24-hour volume in DOT is at $2,638,981,047 with a 3.29% increase.
- The DOT/BTC pair was trading at 0.0006167 BTC with a loss of 1.0%
The 4-hour technical chart of Polkadot projects a downtrend. According to pivot points, DOT’s critical support level is placed at $32.32. Whereas if it moves up, the key resistance level to watch is $38.07. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern.
SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below the SMA-50 (white), which projects a bearish trend. The price is also below SMA-100 (red). Investors may perceive a negative crossover in the chart, the price will also follow the negative trend.
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RSI indicator (BULLISH), with a value of 38, indicates a sell signal in the coin. Moreover, Investors can see a downward slope from 58 to 38 in the index, it may drop more in future trading sessions.
Bearish Crossover in Polkadot
Polkadot price traded at $33.98 with a loss of 4.0% in the last 24-hour and 5.29% down in the weekly time-frame. Furthermore Polkadot slips from the resistance of $38.07. In contrast, the market capitalization stands at $31 billion. Technically, investors can perceive a negative crossover in SMA. Moreover, the movement of price can be towards the next support of $32.32.
Resistance: $38.07
Support: $32.32
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