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FX.co ★ Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday January 20, 2023

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Crypto Analysis:::2023-01-20T04:57:04

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday January 20, 2023

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday January 20, 2023

On its 4 hour chart Polkador Cryptocurrency appears to:

1. Stochastic Oscillator on the Oversold area level.

2. The appearance of Bullish Continuation patterns: Descending Broadening Wedge.

3. Above its Moving Average.

Based on the three things above then Polkadot has the probability to go up to the level 6,1163 as the main target and the level 6,3656 as the next target which will be tested while on the way to these targets there is no downward correction movement that breaks below the 5.4515 level because if this level is successfully broken down then all the scenarios described above will become invalid and cancel automatically.

(Disclaimer)

Analyst InstaForex
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