08.11.202406:23 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Polkadot Cryptocurrency, Friday November 08, 2024

If we look at the daily chart of the Polkadot cryptocurrency, it appears to be under pressure from sellers, as seen from its dynamic price movements within the Bearish Pitchfork channel and the EMA 34 is below the EMA 90 (Death Cross), but with Polkadot's failure to touch the Lower Line Bearish Pitchfork coupled with confirmation of hidden deviations in the Stochastic Oscillator indicator, Polkadot has the opportunity to strengthen upwards in the next few days, where the 4.6015 level will be tested to be broken. If successful, Polkadot will continue to strengthen again to the 5.0393 level, but it should be noted that on its way to these targets, there is a sudden decline again, especially if it falls below the 3.6896 level, then all previously described strengthening scenarios will become invalid and canceled by themselves.

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