Polkadot Price Movement Analysis for 26th February 2021

Spread the love

Polkadot has been tracking the general pattern of the crypto-market over the past few days. The $58,200 Bitcoin slide to test $46,000 saw DOT record losses of 28 percent, with the alt falling from $42 twice in 2 days to test $29.

Charles Hoskinson insisted in related news that there is room on the market for more than one intelligent contract network, adding that Ethereum, Polkadot, and Cardano would co-exist concurrently.

Polkadot 1-hour chart

In fast succession, the $29-level was checked twice, with the same keeping as help at press time. Some areas of price support, based on the DOT’s drop from $42.28, were demonstrated by the Fibonacci Retracement levels to see a candlewick down to $26.8.

In general, testing the same area many times weakens the area as one of either supply or demand, and this also seemed to be true for the $29 field. Another re-test could see a higher price to stave off more bearish pressure, but the signs seemed to point to more losses.

Market Rationale

The RSI stayed at or below 50 to illustrate that momentum over the past week has, for the most part, been in favour of the bears, barring a few bounces. For the same span of time, the OBV also revealed that selling volume greatly outweighed purchasing volume.

RECOMMENDED READ:  Not yet, why Bitcoin's up or down the path hard to call

It was found that the Amazing Oscillator was under zero. Longer timeframes like H4 and H6 revealed that the bears of the market were in charge of the market.

The retracement level of 50 percent for DOT’s move was at $33.47. This is the amount that would have to rise above the price to emphasise that DOT was on the road to recovery.


A jump below $29 would possibly see DOT fall to $26, while another $29-region bounce would have to climb above $33.4 before the bulls can be said to have any market power. The momentum was strongly in favour of the bears in the short and medium term, especially since the sales volume was very evident in the market.

 180 Interactions,  2 today

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

Chiliz moved rangebound and was supposed to stay within a fixed channel in the short term. Dogecoin reached yet another Read more

Polkadot, VeChain, SushiSwap Price Movement Analysis for 10th April, 2021

Polkadot could soon convert the $42 level to help and begin to rise. SushiSwap was heading downward but could display Read more

Polkadot, Crypto.com Coin [CRO], Synthetix Price Movement Analysis for 9th April, 2021

Historically, the altcoin sector has seen a close association with Bitcoin's price results. However, over the last few days, multiple Read more

Polkadot Price Movement Analysis for 8th April, 2021

Since the beginning of the year, the Polkadot market has increased in volume by at least 368 percent. Though it Read more

Polkadot, Synthetix, DigiByte Price Movement Analysis for 7th April, 2021

Through most of April, the dominant trend has been set by the market's altcoins, with much of the industry's cryptos Read more

Polkadot futures open interest approaches $1 billion as the DOT price hits a new peak.

Polkadot futures open interest surpassed $1 billion, surpassing Litecoin and XRP to become the third-largest futures exchange. Polkadot's DOT token's Read more

RECOMMENDED READ:  STO Platform launches on Wanchain with Oracle Innovation Partner of the Year “Talium”
Ethereum Classic, Polkadot, VeChain Price Movement Analysis for 6th April, 2021

One of the crypto-long-standing market's certainties is Bitcoin's association with the industry's altcoins. As has always been the case, the Read more

Polkadot Price Movement Analysis for 3rd April, 2021

The ETH/BTC pair has stopped trending downward and has actually made gains in recent days, flashing a buy signal across Read more

Aave, Dash, Polkadot Price Movement Analysis for 2nd April, 2021

Aave's goal was to shift the $390-region from supply to demand. Dash and Polkadot approached stiff resistance with bullish momentum, Read more

Enjin receives $18.9 million in support for the Polkadot-based NFT blockchain.

Enjin is expected to unleash the first-ever nonfungible token (NFT) blockchain based on Polkadot in the middle of the exponentially Read more

Kraken CEO weighs in on Bitcoin, Ethereum, and Polkadot, this is what he thinks.

Because of Bitcoin's market success in recent weeks and months, many crypto-proponents have expanded on what they expect from the Read more

Leave a Reply

Contact Us