Meanwhile, most cryptocurrencies are in green on Thursday toward the end of the Asian session. Similarly, Polkadot trades at $24 following double-digit gains of over 14%, accrued in the last 24 hours.
Polkadot uptrend seems intact
Polkadot has lifted above two critical levels, the 100 ( ) and the 50 . These are significant milestones within this recovery mission. Note that a four-hour close above these levels would validate the upswing to the next critical level at $28.
The Moving Average Convergence Divergence ( ) indicator adds weight to the bulls' ability to take down the seller congestion at $28 and perhaps catapult DOT beyond $30. The is a ; it also follows the trend of an asset. Both sell and buy signals are usually expected from this technical indicator.
Realize that the line crossing above the signal line, as illustrated on the chart, is a signal. The line dropping beneath the same signal line is a call to sell on the flip side. Moreover, a break into the positive region (areas above the zero line) is another signal.
The ( ) cements the bulls' presence in the market. This indicator tracks the trend of an asset and measures its momentum. Note that a sharp movement toward the overbought region shows the aggressiveness of the bulls.
The also identifies when an asset is overbought or oversold. Therefore, as the indicator hits the overbought region, investors should tread cautiously to avoid being caught unawares by a correction.
Polkadot intraday levels
Spot rate: $24
Resistance: $28 and $34
Support: $20 and $14.5