Polkadot (DOT): Fakeout Near Resistance / Shorting?

22 พ.ค. 2024

Polkadot caught our attention with its price, showing some signs of a fakeout near the resistance zone (which was broken but not secured).

As we are forming a fakeout here, we are also looking for potnetial downward movement here, so eyes open!

Swallow Team

23 พ.ค. 2024

บันทึก

Polkadot is still trading above that broken resistance zone, where price has re-tested the broken zone and showed some strength around that zone.

Despite that, we are not very optimistic for further upward movement here, so we are still looking for a breakdown to happen, but if we somehow manage to break also the current timeframes ATH, we might see price to move to upper zones here!

24 พ.ค. 2024

บันทึก

The first target was reached after getting a nice rejection near the resistance zone.

As we are still falling here, we see some kind of struggle forming near EMAs, but it should not be a worry, (we think).