Polkadot is trending within a range bound from past very long time and despite multiple attempts, it failed to break through the consolidation
The asset is not showcasing any clear signals of buy or sell and hence need to wait for a strong confirmation
Polkadot price much similar to the traditional cryptos like Bitcoin or Ethereum or XRP is trending within a very narrow range from almost a month. Yet some signals of a bullish divergence is seen with the DOT price, however, to validate with the uptrend, the asset needs to test some crucial zones at the earliest. And therefore, it is the best option for the traders to remain calm and wait the good opportunity to jump in and grab best deal.
What’s Next For Polkadot Price ?
DOT price is experiencing a huge influx of trading volume since the previous trading day and luckily the buying volume is slightly higher than that of the selling. Despite that, the price is not able to range high and swinging within a parallel channel. Therefore showcasing an uncertain behaviour which is unsure of the next movement.
The DOT price was trending within a big value area in the first few days of December. However, after reaching the liquidity area, the asset quickly slashed down drastically and yet again fell into the lower liquidity zone where in the short traders went on profit. And current is trending within the middle bands of the and hence it is pretty dangerous to open transacrions in these levels.
However, the traders can wait for a while as currently it is not clear whether the buyers are stronger or the sellers. Therefore a confirmation is much required and this may happen when the DOT price surges above $35. And this may be the time when the traders could open new positions of there choice.
Source: https://coinpedia.org/price-analysis/polkadot-price-analysis-traders-watch-these-buy-levels-big-players-have-gathered-liquidity-what-next/