DOT/USD Bounces Upwards From Support

Not long after DOT/USD price action poked through the $7 price level, Bears were very quick to take out the gathered profits. At the moment, it appears as if some significant buying has begun in this market. Consequently, this requires that we give a closer look at price movement for more details

Polkadot’s Forecast Statistics Data:
DOTs price: is $6.07
Polkadot’s market capitalization: $6.68 billion
DOT circulating supply:  1.13 billion
Polkadot overall supply: 1.25 billion
DOT Coinmarketcap ranking: #11

Major Marks:
Resistance Marks: $6.07, $6.27, $6.50
Support Marks: $5.83, $5.63, $5.43

Polkadot Price Prediction Today, November 11, 2022: DOT/USD Experiences Strong Buying

It could be seen easily that price activity DOT/USD daily market is experiencing massive and instantaneous buying. This can be seen through the size of the last price candle on this chart as it formed bullish. As interesting and massive this might seem, another applied indicator doesn’t seem to reflect the significant influence of Buyers. Nevertheless, this may mark the beginning of a significant upward gain in this market. But since the Stochastic RSI hasn’t reflected an increase in upside momentum Traders will have to wait for more confirmation from this Indicator. This can be done by placing a pending buy order of around $6.40 or $6.50 to catch any developing uptrend.

Polkadot Price Prediction Today, November 11, 2022: DOT/BTC Is Testing a Strong Resistance

Moving to the DOT/BTC market, we can see that price activity here is already testing resistance. This resistance seems to be strong as it has been tested a couple of times without breaking. However, the current session remains under the control of the bulls given the color of the last price candle. Nevertheless, it is important to note that the RSI curves are now in the over-bought region although their direction seems to indicate a price decline presently. At this point, the Fibonacci level of 61.80 appears to be holding well. Consequently, this has throwing Traders into a dicey situation. Should the resistance be eventually broken upwards, price may reach beyond $0.0003600.

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