Polkadot / Dollar may fall to 6.69 - 6.80

7.22 is our pivot point.

Our preference

The downside prevails as long as 7.22 is resistance.

Alternative scenario

Above 7.22, look for 7.42 and 7.53.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.17 and 7.26). Finally, the Polkadot / Dollar has penetrated its lower Bollinger band (7.08).

Supports and resistances

7.53 **

7.42 *

7.22 **

7.15

7.04 last

6.80

6.69 **

6.57 *

6.46 **

Number of asterisks represents the strength of support and resistance levels.