Polkadot Price Analysis: 07 January – AMBCrypto News
Ethereum ‘believer’ now claims crypto has ‘no real value’ Are good times for Litecoin [LTC] too good to last for long Can Axie Infinity [AXS] eliminate investor uncertainty with this new offering? Identifying what’s stopping Bitcoin [BTC] from climbing the charts How long before Solana’s [SOL] long-term downtrend snaps Identifying what’s stopping Bitcoin [BTC] from climbing the charts What are Bitcoin investors aiming for amid surging BTC outflows What inflows worth $51M in short-Bitcoin investment products mean As Bitcoin [BTC] flashes green, is the worst finally behind it Bitcoin whales are accumulating, but why is BTC’s growth stunted What inflows worth $51M in short-Bitcoin investment products mean Why Ethereum investors remain uncertain despite ETH’s 9% gains Ethereum [ETH] miners’ revenue check amid ‘Merge’ anticipation For Ethereum traders, this could be a profitable course of action The opportunity cost of ETH 2.0 deposits hitting an ATH is… Published on By Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice With Bitcoin, the world’s largest cryptocurrency, climbing to touch one ATH after another, the alt season may have finally kicked off. With the BTC market hitting new peaks every day, the altcoin market has started to mirror its profits too. Polkadot [DOT] has been one of the market’s most prominent projects in the last 6 months or so, with DOT surging to touch an ATH of its own on the 7th of January. In fact, the alt rallied to a value of $11.08, before registering some corrections. At press time, DOT was being traded at $10.10. Polkadot four-hour chart Source: DOT/USD on TradingView DOT’s 4-hour chart outlined the cryptocurrency’s growing price within an ascending channel. This ascending channel surpassed various levels of resistances and fueled DOT’s price rise to new ATHs. While the cryptocurrency’s trading price was noting a lot of sellers’ pressure at press time, the crypto-asset might not drop extensively on the charts. Ergo, this might be a good opportunity to long the digital asset. Reasoning Momentum in the cryptocurrency market has been rising for a while now. The Bitcoin market, at press time, showed the asset trying to reach $38k, and it might do so before the day ends. However, this would also result in the price of the market’s altcoins surging, hence, DOT may just register yet another ATH. The Awesome Oscillator was an indicator of this rising momentum as it was noting strong buyers’ momentum on the charts. On the contrary, the Relative Strength Index remained over and close to the overbought zone. This did not suggest the crypto-asset was going to drop due to the bullish momentum in the altcoin market. Position Entry: $10.50 Stop-Loss: $9.87 Take-Profit: $11.46 Risk-to-Reward: 1.03 Conclusion The aforementioned analysis paints a bullish picture for DOT, one wherein the cryptocurrency’s traders can long the digital asset and see the price re-visit its ATH, if not mark a new one.
XRP, Tron, Zcash Price Analysis: 07 January Litecoin, ETC, Neo Price Analysis: 07 January Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space. With Polkadot [DOT] suffering a bull trap on the charts, here’s all you need to know Polkadot rises strongly, but how high can it really rally More losses for Polkadot, but is there an opportunity going forward Polkadot can make a comeback once it finds itself at this support region Polkadot could continue its drawdown following these signals Polkadot needs assurance on these counts before making a new ATH Your email address will not be published.Required fields are marked *
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