As you can see on weekly chart, an ascending wedge formed and price showed good reaction to the top of the wedge; almost retraced 50% so far.
Now, the price is at the edge to flip bearish, if it cannot hold the lower wedge trendline.
The price is just above the WRH level, which is important to hold this level to keep the long-term bullish structure.
The swing low (white arrow) level is around $22.5 and is the most important level on the chart. To see higher prices, the swing low level must be hold.
In the case of a close below the swing low level, price would drop to the WRL level around $12.5.
I'm a fan of Polkadot project and I will be more than happy if the price drops to WRL. Then I can load my long-term bag.
Let me know your view and prediction,
Cheers!
Mr. CryptoTracker
Now, the price is at the edge to flip bearish, if it cannot hold the lower wedge trendline.
The price is just above the WRH level, which is important to hold this level to keep the long-term bullish structure.
The swing low (white arrow) level is around $22.5 and is the most important level on the chart. To see higher prices, the swing low level must be hold.
In the case of a close below the swing low level, price would drop to the WRL level around $12.5.
I'm a fan of Polkadot project and I will be more than happy if the price drops to WRL. Then I can load my long-term bag.
Let me know your view and prediction,
Cheers!
Mr. CryptoTracker
Mr. CryptoTracker