Uncertainty is clear in Polkadot’s market sentiment. For the final two weeks, the $4.22 worth level has served as a help stage and has been examined a number of occasions. If Polkadot continues to rise from right here, it might attain a excessive of about $5.
Technical indicators, nevertheless, paint a contradictory picture. A change in momentum is indicated by the downward crossover of the MACD, and rejection was encountered by the OBV near the month’s highs. Regardless of this, the OBV has not decreased considerably, and ranges close to $3.6 seem distant. Nevertheless, a pointy drop available in the market might probably drive the worth down so far.
In accordance with worth evaluation, Polkadot may type a brief backside. The $4.22 barrier might break momentarily, however an evaluation of the liquidation heatmap signifies that this might end in a brief uptick. Nevertheless, important liquidity at $4.11 might trigger a decline previous to a pattern reversal.
