Polkadot / Dollar may fall to 5.46 - 5.53

Our pivot point stands at 5.79.

Our preference

The downside prevails as long as 5.79 is resistance.

Alternative scenario

The upside breakout of 5.79, would call for 5.91 and 5.99.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 5.72 and 5.74).

Supports and resistances

5.99 **

5.91 *

5.79 **

5.74

5.68 last

5.53

5.46 **

5.38 *

5.31 **

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