Polkadot Continues Strong Upward Movement

WILL DOT CORRECT BEFORE NEXT MOVE UP?

The Polkadot project is the talk of the day, and the rumor mill tells us that it may one day overtake Etherium. It ripped right out of the gates after the 100:1 split, but DOT doesn't look like it is ready to take a break. Let’s take a look at the chart provided by Tradingview.com.

DOT has come through a progression of stair steps, conquering one level after another since the beginning price of $2.50 after the split. Each time I thought it was going to have a nice correction, it only took a breather and made another rip to the positive side. This makes it a hard one to predict.

Looking at the current stats, the stochastic isn't in the oversold zone, but the fast line just crossed over the slow line, which indicates a possible reverse in direction. That would bring another level-up on price.

The only indication of correction comes from the volume. We see how the volume has taken a drop. But it's still fairly significant. So that is not enough evidence in predicting a dip. The only thing I can do with this is buy more, and continue with the “dollar-cost-averaging” strategy until I fill a nice bag with Polkadots.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

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