POLKADOT - DOT/USDT - Daily - Technical analysis published on 09/10/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 4.38 USDT
My targets
3.93 USDT (-5.68%)
3.60 USDT (-13.74%)
My analysis
The bearish trend is currently very strong for POLKADOT - DOT/USDT. As long as the price remains below the resistance at 4.38 USDT, you could try to take advantage of the bearish rally. The first bearish objective is located at 3.93 USDT. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 3.60 USDT as an objective. Crossing it would then enable sellers to target 2.95 USDT. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3
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Additional analysis
Quotes
POLKADOT - DOT/USDT rating 4.17 USDT. The price is lower by -1.65% since the last closing and was traded between 4.12 USDT and 4.24 USDT over the period. The price is currently at +1.21% from its lowest and -1.65% from its highest.4.12
4.24
4.17
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by POLKADOT - DOT/USDT:
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of POLKADOT - DOT/USDT in Daily shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 4.17 | 4.38 | 5.52 | 6.92 |
| Change (%) | - | +5.04% | +32.37% | +65.95% |
| Change | - | +0.21 | +1.35 | +2.75 |
| Level | - | Minor | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.19 | 4.21 | 4.23 | 4.25 | 4.27 | 4.29 | 4.31 |
| Camarilla | 4.23 | 4.23 | 4.24 | 4.24 | 4.24 | 4.25 | 4.25 |
| Woodie | 4.18 | 4.21 | 4.22 | 4.25 | 4.26 | 4.29 | 4.30 |
| Fibonacci | 4.21 | 4.23 | 4.24 | 4.25 | 4.27 | 4.28 | 4.29 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4.02 | 4.10 | 4.17 | 4.25 | 4.32 | 4.40 | 4.47 |
| Camarilla | 4.20 | 4.21 | 4.23 | 4.24 | 4.25 | 4.27 | 4.28 |
| Woodie | 4.02 | 4.10 | 4.17 | 4.25 | 4.32 | 4.40 | 4.47 |
| Fibonacci | 4.10 | 4.16 | 4.19 | 4.25 | 4.31 | 4.34 | 4.40 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.95 | 3.60 | 3.93 | 4.58 | 4.91 | 5.56 | 5.89 |
| Camarilla | 4.00 | 4.09 | 4.18 | 4.27 | 4.36 | 4.45 | 4.54 |
| Woodie | 2.80 | 3.52 | 3.78 | 4.50 | 4.76 | 5.48 | 5.74 |
| Fibonacci | 3.60 | 3.97 | 4.20 | 4.58 | 4.95 | 5.18 | 5.56 |
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): | 30.58 | |
| MACD (12,26,9): | -0.1400 | |
| Directional Movement: | -19.12 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 4.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 4.59 | |
| Elder Ray (13): | -0.13 | |
| Super Trend (3,10): | 4.55 | |
| Zig ZAG (10): | 4.18 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 13.11 | |
| TEMA (21): | 4.17 | |
| Williams %R (14): | -91.89 | |
| Chande Momentum Oscillator (20): | -0.50 | |
| Repulse (5,40,3): | -1.7200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.4800 | |
| Courbe Coppock: | 11.67 |
| MA7: | 4.25 | |
| MA20: | 4.37 | |
| MA50: | 4.73 | |
| MA100: | 4.89 | |
| MAexp7: | 4.25 | |
| MAexp20: | 4.38 | |
| MAexp50: | 4.63 | |
| MAexp100: | 4.89 | |
| Price / MA7: | -1.88% | |
| Price / MA20: | -4.58% | |
| Price / MA50: | -11.84% | |
| Price / MA100: | -14.72% | |
| Price / MAexp7: | -1.88% | |
| Price / MAexp20: | -4.79% | |
| Price / MAexp50: | -9.94% | |
| Price / MAexp100: | -14.72% |
Quotes :
-
Real time data
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Cryptocompare
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