Polkadot jumped to $ 36 after hitting $ 28 in the past few days, but once again dropped below $ 34. Ethereum Classic found some resistance at $ 12.



Polkadot (DOT) price analysis

The Supertrend indicator showed a sell signal for DOT after sliding below the descending channel (cyan) and falling to $ 28. However, it has since recorded a recovery towards $ 34 but whether this is a bounce rather than a recovery is an important question.

At the time of writing, the trading volume did not really support the recent price increase, indicating that it was really a bounce. The Awesome Oscillator has shown bearish momentum, but there is no real strength in the past few hours.

Key levels to watch out for are $ 34.5 and $ 36. Rejection can be used to enter the long position in retest, while showing the strength of the drop.

Ethereum Classic (ETC) price analysis

Using the Fibonacci correction tool, some levels of significance are seen in the move of ETC from $ 18 to $ 9. As the RSI remains below the neutral 50 value, the RSI showed the bears controlling the market over the past few days.

Parabolic SAR climbed into the overbought territory, even though the price dropped below the 38.2% retracement level. This was not an encouraging sign for the bulls.

It seems likely that the ETC will continue to fall towards the $ 10.75 mark once again.


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