For Traders

Analytical Reviews

Crypto-currencies

20.01.202306:57 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday January 20, 2023

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.

On its 4 hour chart Polkador Cryptocurrency appears to:

1. Stochastic Oscillator on the Oversold area level.

2. The appearance of Bullish Continuation patterns: Descending Broadening Wedge.

3. Above its Moving Average.

Based on the three things above then Polkadot has the probability to go up to the level 6,1163 as the main target and the level 6,3656 as the next target which will be tested while on the way to these targets there is no downward correction movement that breaks below the 5.4515 level because if this level is successfully broken down then all the scenarios described above will become invalid and cancel automatically.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade