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Analytical Reviews

Crypto-currencies

13.12.202407:07 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday December 13, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 13.12.2024 analysis

Although Polkadot's price movement is moving within the Bearish Pitchfork channel on its 4-hour chart, since its weakening it has been stuck at the support level of 7.5700 which at the same time formed a Double Bottom, but the Awesome Oscillator indicator has formed a Higher-High and is supported by its price movement which is currently above the MA 200 which has a slope that dives upwards, so in the near future Polkadot has the potential to strengthen where the level of 9.6634 will be tested to be broken and closed above it. If successful, Polkadot has the potential to continue its strengthening to the level of 10.8875 and if the momentum and volatility support it, 12.0771 will be the next target to be achieved, but all of these strengthening scenarios will be invalid if on the way to the target levels there is a sudden significant weakening, especially if it breaks through and closes below the level of 6.4037.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2025

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