Hello Traders Investors And Community,
Welcome to this analysis about Polkadot, we are looking at the 45-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Polkadot on the more global perspectives is moving in a sideways channel from which it will show the conclusions sooner or later, besides that, now, on the local timeframes I discovered a decisive formation Polkadot is forming that can indicate a breakout in the schedule that moves on to test remaining resistances when Polkadot manages to develop the proper price-actions, therefore I detected all the important levels and likely destinies we should consider with the established structure and upcoming movements ahead.
As when looking at my chart now we can watch there how Polkadot is about to develop this main descending-channel-formation marked in my chart with the blue boundaries, within this channel Polkadot has the coherent wave-count with the waves A to C already established and now with the wave D about to form that will run directly into the upper-boundary and the 700-EMA in red as well as the 600-EMA in green that are still resistances in this case and therefore likely to be origin for a pullback that continues with the main wave E within the wave-count. This wave E will be the last wave within the wave-count and will finalize it by moving into the lower back-up-cluster from where the decisive bounce can set-up. When this bounce from the back-up-cluster is strong enough it will lead to a breakout above the upper boundary of the channel activating further bullish conclusions and developments, a likely target, in this case, will be the 38 USD level from where the situation needs to elevate anew and Polkadot needs to show rather it manages to continue bullishly from there or firstly develops a pullback testing lower levels, it will be an interesting journey ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Polkadot, we are looking at the 45-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Polkadot on the more global perspectives is moving in a sideways channel from which it will show the conclusions sooner or later, besides that, now, on the local timeframes I discovered a decisive formation Polkadot is forming that can indicate a breakout in the schedule that moves on to test remaining resistances when Polkadot manages to develop the proper price-actions, therefore I detected all the important levels and likely destinies we should consider with the established structure and upcoming movements ahead.
As when looking at my chart now we can watch there how Polkadot is about to develop this main descending-channel-formation marked in my chart with the blue boundaries, within this channel Polkadot has the coherent wave-count with the waves A to C already established and now with the wave D about to form that will run directly into the upper-boundary and the 700-EMA in red as well as the 600-EMA in green that are still resistances in this case and therefore likely to be origin for a pullback that continues with the main wave E within the wave-count. This wave E will be the last wave within the wave-count and will finalize it by moving into the lower back-up-cluster from where the decisive bounce can set-up. When this bounce from the back-up-cluster is strong enough it will lead to a breakout above the upper boundary of the channel activating further bullish conclusions and developments, a likely target, in this case, will be the 38 USD level from where the situation needs to elevate anew and Polkadot needs to show rather it manages to continue bullishly from there or firstly develops a pullback testing lower levels, it will be an interesting journey ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.