Is now the right time to scoop up some DOT? The Following Article Is Not Financial Advice.  Covered: What is happening with Polkadot’s (DOT) Chart? Is this a good moment to dip buy? I think so. Where I would exit in case DOT begins selling off more. DOT: A Quality Crypto Deserves Attention When It […] The post DOT Is On Sale Right Now appeared first on CryptosRus.

DOT Is On Sale Right Now

Is now the right time to scoop up some DOT?

The Following Article Is Not Financial Advice. 

Covered:

  • What is happening with Polkadot’s (DOT) Chart?
  • Is this a good moment to dip buy? I think so.
  • Where I would exit in case DOT begins selling off more.

DOT: A Quality Crypto Deserves Attention When It Gets Cheap

The aftermath of last weekend’s liquidation break in the crypto market left some more affected than others.

We’ve seen MATIC recovering like a champ, only to end up resuming its uptrend and some other coins not so much.

BTC’s dominance right now is about 39% at the time of this writing and I don’t recall the last time I saw BTC dominance below 40%.

DOT TA Weekly Chart

 

 

Weekly uptrends are still intact. DOT is holding above a key support zone. This is considered an accumulation zone in trend following — as long as this support holds.

DOT Daily Chart

DOT is very oversold on the daily chart, but it’s holding up above 200MA (purple line), which is key support, but it does have other support lines below.

My stop is at 23. I’d use rather a wide stop within my tolerance because getting stopped out only to see the market going in the direction you thought is a waste of time.

My first target is price hitting 50MA (D) (Salmon Line). If it gets there I will start trailing up my stop.

DOTBTC Weekly Chart

You can see the channel forming here in the weekly chart of DOTBTC. And the trajectory is up.

RECOMMENDED: THREE TOP PLAY-TO-EARN GAMES ON POLKADOT YOU HAVE TO CHECK OUT

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