ANALYSIS
Polkadot, Ethereum Classic, IOST Price Analysis: 25 FebruaryAkashnath SumukarPublished 24 mins ago on February 25, 2021By Akashnath Sumukar
Source: Pixabay
Polkadot saw a bounce to $36 after touching $28 over the past few days, but it has once again sunk beneath the $34 mark. Ethereum Classic also found some resistance at the $12 mark, and IOST showed rising bearish pressure.
ANALYSISPolkadot, Ethereum Classic, IOST Price Analysis: 25 FebruaryAkashnath SumukarPublished 24 mins ago on February 25, 2021By Akashnath Sumukar
Source: Pixabay
Polkadot saw a bounce to $36 after touching $28 over the past few days, but it has once again sunk beneath the $34 mark. Ethereum Classic also found some resistance at the $12 mark, and IOST showed rising bearish pressure.
Polkadot [DOT]
Polkadot, Ethereum Classic, IOST Price Analysis: 25 February
Source: DOT/USDT on TradingView
The Supertrend indicator showed a sell signal for DOT after it slipped beneath the descending channel (cyan) and plunged to $28. However, since then it has made a recovery toward $34-but whether this is more of a bounce rather than a recovery is a pertinent question.
At the time of writing, trading volume did not really back the recent price rise, indicating that it was indeed a bounce. The Awesome Oscillator showed bearish momentum, but no real strength over the past few hours.
Key levels to watch out for are $34.5 and $36 above it. A rejection would indicate bearish strength, while a flip to support can be used to enter a long position on a retest.