Contents
Polkadot, which showed a strong 18% increase in the last 24 hours, set a new ATH at $ 40.92. It also performs well against Bitcoin.
Will the record-breaking Polkadot continue to rise?
The DOT traded within an ascending price channel for the majority of February. Yesterday, the $ 35.50 resistance was broken and it also exceeded $ 36 (1.272 Fib Extension & upper bound of the price channel).
Today, DOT has managed to become parabolic, breaking the upper bound of the price channel. The new ATH rose up 17% to set its price at $ 40.92.
Polkadot, which showed a strong 18% increase in the last 24 hours, set a new ATH at $ 40.92. It also performs well against Bitcoin.
Expected levels
Looking ahead, the initial resistance lies in the $ 40.92 ATH price. This is closely followed by $ 41.63 (1.618 Fib Extension), $ 45.57 (1.272 Fib Extension – orange), $ 48 (1.618 Fib Extension – blue) and $ 50.
On the other hand, initial support lies at $ 35.50. This is followed by $ 32.71 (0.236 Fib), $ 30, $ 27.67 (0.382 Fib) and $ 23.60 (0.5 Fib).
The RSI is in overbought conditions indicating that the bulls may be over-expanding, as well as hints of bearish divergence. This suggests that retreat is possible.
Key Support Levels: $ 35.50, 32.71 and $ 30
Key Resistance Levels: $ 40.92, 41.63 and $ 45.57
