Polkadot, Dogecoin, Bitcoin Cash Price Analysis: 03 January

Polkadot, Dogecoin, Bitcoin Cash Price Analysis: 03 January


With Ethereum snapping off its instant resistance at the $3,700-mark over the previous day, Polkadot saw a 1.5% 24-hour gain at press time. Even so, the 38.2% Fibonacci resistance stood as a limitation to Polkadot and Bitcoin Cash’s healing stage.

On the other hand, Dogecoin continued its combination with small bearish propensities.

Polkadot (DOT)

TradingView, DOT/USDT

Although DOT kept in mind an increasing wedge (white) slope of almost 40%( from 20 December low), it marked lower peaks given that 16November Then, the 19.95% retracement after the three-week high up on 27 December discovered instant assistance at the $26.12-level.

After retesting it thrice over the previous 5 days, the 38.2% resistance stood strong. However, as the alt leapt above its 20-50-200 SMA, the range 50 SMA (yellow) crossed the 200 SMA (cyan), meaning bullish propensities.

In regards to the strength of its healing, the volumes saw a 75.9% 24-hour dive. This showed a healthy healing.

At press time, the alt traded at $29 after keeping in mind a 10.75% ROI in simply 3 days. The RSI handled and saw a strong healing to discover a close above the half-line. Also, the DMI meant a bullish vitality while the ADX showed a weak directional pattern.

Dogecoin (DOGE)

TradingView, DOGE/USD

DOGE combined after the falling wedge (green) breakout on its 4-hour chart. The most current red candlestick saw significant pullback volumes, suggesting a strong bearish relocation. Post an up-channel (yellow) breakdown, DOGE bears have actually guaranteed the $0.1919 and $0.1675-mark oscillating variety.

Further, the Squeeze Momentum Indicator flashed black dots while meaning a low volatility stage. Now, any more pullback must discover screening assistance at the $0.1675-level.

Additionally, it traded near its Point of Control that used the greatest liquidity for almost the last 2 months. At press time, DOGE traded at $0.1716. The RSI plunged listed below the balance and discovered assistance at the 44-point level. Besides, the ADX remained in a drop and showed a weak directional pattern for the alt.

Bitcoin Cash (BCH)

TradingView, BCH/USDT

The bearish flag (yellow) breakdown pressed DOT’s rate listed below the 38.2% resistance. The bulls guaranteed the 419-mark while bears retested it several times over the previous year.

Thus, the alt combined in between the above 2 levels for over 3 weeks now. Meanwhile, the Supertrend yet once again flashed a sell signal. At press time, the alt traded at $442.8.

The RSI stood at the 52-mark after revealing some revival indications. A continual close above 58 might fire up the opportunities of breaching the 38.2% Fibonacci level. While the DMI lines were on the edge of a bearish crossover, the ADX showed a weak directional pattern for the alt.


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