Last Updated: 9 July 2021 / 12:45am EST
Polkadot (DOT) did follow the rest of the market downwards, but not as far as a lot of the other cryptos fell. It actually managed to stay within my wedge, so it’s still continuing it’s consolidation against the resistance line trend.
I would expect this consolidation to continue for much of the rest of the month, with the price trending up to $17 on the high point, but maintaining support along the slanted line of the wedge.
If the price does fall out of the bottom of the wedge, I would expect us to maintain the support line at $13, and wouldn’t expect to see prices get below that to stay.
Last Updated: 6 July 2021 / 9:45pm EST
Polkadot (DOT) appears to be making a really long upward wedge, but it more or less just trending sideways at the upper side of my box.
The price seems to be staying pretty consistently between $14.50 and just under $17, and I would expect it to continue in this range until the rest of the market starts heating up. A lot of the good news with Polkadot (DOT) has already happened, and it will be a little bit before the next round of things starts hitting, so there won’t be a lot of news driving price action that I foresee for the next little bit.
Last Updated: 4 July 2021 / 5:30pm EST
Polkadot (DOT) is doing a pretty good job of hanging out right in the box between $13 and $17. I would expect it to stay within this range for much of the next week or so, as it is not seeing the recent pumps that other cryptos are experiencing.
If it does manage to push up and take the $17 price point, the next target line would be at $20. Likely we are going to see a reversal at the $17 point instead, and start drifting down back towards the $13 point, as there just does not seem to be enough momentum to break the line.