Chiliz , Dogecoin, Polkadot Price Movement Analysis for 11th April, 2021

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Chiliz moved rangebound and was supposed to stay within a fixed channel in the short term. Dogecoin reached yet another high over $0.067, and a breakthrough was possible in the coming sessions. Finally, Polkadot split below an ascending channel and moved towards the $39.9 support level.

Chiliz [CHZ]

The ADX fell from 22 to reflect a declining trend in the Chiliz industry. Even the 4-hour chart has seen rangebound volatility in recent weeks, with CHZ trading between $0.564 and $0.467. Since the price had stabilised after reaching all-time highs in mid-March, it was likely that the asset was in an appreciation period.

For the last three weeks, the Bollinger Bands have been compressed and volatile. And if the result is negative, the bulls are likely to keep the price above the $0.367 support level.

Dogecoin [DOGE]

Source: DOGE/USD, TradingView

Dogecoin formed its third high above $0.067 in the last ten days, but failure to break above this threshold blinked red signals in the sector. If the price does not close over its overhead resistance, another failure is likely. In such a scenario, help lines at $0.058 and $0.055 will be highlighted. Both of these areas have seen recent buying after dips, but a step below these lines may be detrimental to DOGE’s short-term trajectory.

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Although the Awesome Oscillator did show consecutive green bars, more momentum was needed to break beyond the upper limit. The OBV increased as purchasing volumes exceeded sale volumes. In the event of an upward breakout, the bulls’ next goal was $0.075-resistance.

Polkadot [DOT]

Source: DOT/USD, TradingView

Polkadot’s price pushed south on the 4-hour timeline after establishing two peaks above the $46 level, finding support at $38.7. As an ascending channel emerged on the charts, DOT developed higher highs and lower lows. In reality, a failure was observed during the writing of low volumes. Support thresholds are at $39.9 and $38.7, but there is a risk of a prolonged sell-off.

The MACD revealed a bearish convergence below the half-way line, and the RSI was pointing lower from 43. If the bulls struggle to keep another defensive line at $37.38 – an area that fits with the 200-SMA (green), DOT could see a dramatic turnaround in the short-to-medium term.

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