DOT Expert Explains Why You Need to ‘Buy Polkadot Before It’s Too Late’

2023-11-4 13:30

Polkadot’s DOT token has garnered much attention lately as analysts spot a bullish setup emerging on the charts. According to expert trader Captain Faibik, now is the time to buy DOT before the price takes off.

Falling Wedge Breakout

Faibik notes that DOT has been trading within a falling wedge pattern on the weekly chart since January. This is typically a bullish pattern, and Faibik believes the breakout from this wedge has already been confirmed based on the recent price action.

With DOT currently trading around $4, Faibik’s analysis suggests the breakout could propel the price to over $10 if the bullish momentum continues. That would represent over a 150% gain from current levels.

Weekly RSI Showing Bullish Divergence

In addition to the falling wedge breakout, Faibik points out that the weekly Relative Strength Index (RSI) for DOT is printing a significant bullish divergence. This occurs when price makes lower lows while the RSI indicator starts trending higher – a sign of building upside momentum.

Buy Before It’s Too Late

Given the confluence of the falling wedge breakout and bullish RSI divergence, Faibik believes traders should buy Polkadot before the next leg up in price. In his words, “Buy Polkadot before it’s too late.”

Read also:

Crypto Lawyer Explains Why Ripple ‘Is Not Going to Abandon XRP’ Get Rich With This Brand-New Meme Coin That’s Taking the Market by Storm A Weekly Close Above This Channel Top Will Trigger Massive Buys for Dogecoin (DOGE)

Faibik seems confident that DOT could be on the cusp of major gains if it can hold the breakout. For traders who get in at current levels around $4, the technical setup suggests impressive upside potential according to this expert. With DOT already recovering off its lows, Faibik is urging buyers to jump in now before the next explosive move starts gathering pace.

We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post DOT Expert Explains Why You Need to ‘Buy Polkadot Before It’s Too Late’ appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dotcoin (DOT) на Currencies.ru

$ 0.0055765 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0055765 - H: $0.0055765
Капитализация $1.74m Rank 99999
Доступно / Всего 312.018m DOT / 890m DOT

dot polkadot buy charts according setup trader

dot polkadot → Результатов: 126


Polkadot ‘Looks Good’ Long-term Says Elite Trader, Predicts new ATH for DOT

Amidst the recent crypto market correction, Polkadot (DOT) has experienced a 15% dip, trading below $10 at the $9 level after hitting a 2024 yearly peak of around $12 a few days ago. Despite this temporary setback, AlanSantana, one of the most popular traders on TradingView, remains bullish on DOT’s long-term prospects and says it […] The post Polkadot ‘Looks Good’ Long-term Says Elite Trader, Predicts new ATH for DOT appeared first on CaptainAltcoin.

2024-3-20 22:30


Polkadot Ventures Into Bearish Zone: What’s The Next Move For DOT?

Polkadot (DOT), one of the leading cryptocurrencies in the ever-evolving blockchain ecosystem, is currently navigating a critical juncture in its recovery journey. Despite showing promising signs of rebounding from previous price corrections, DOT’s path to sustained growth is encountering significant roadblocks that could potentially lure sellers back into the market.

2023-6-14 14:36