Polkadot: Daily Review and Trading Ideas

Market Conditions
We are in the bearish trend, consolidation about the support.

Valuable Areas
$6.15 is the key support right now for bears. MAs with 20 and 50 periods are key resistance lines for bulls.

Trade Opportunities
If the price moves below $6.15 support, it is a bearish signal in the direction of the main trend. The main target for bears will be $3.75 support.

If the price moves above 20MA, we may expect a correction movement with the targets around 50MA and $10.00 resistance.

For shorting, it is possible to use bearish signals from daily and lower timeframes. For buying, I would use bullish signals from hourly time frames for better risk/reward ratio.

Day traders should follow the bearish sentiment and open short positions using any pullback to valuable resistance levels and lines from the hourly time frames.