Summary
TLDR: Polkadot’s price indicators suggest potential consolidation as a bearish death cross forms in the chart. Development activity has decreased, RSI signals possible price stagnation, and EMA lines indicate a possible 13% correction. Price support levels and resistance levels are crucial in determining the future price movement of DOT.
Key Points
1. Polkadot’s latest indicators suggest potential price consolidation and a bearish trend, as a death cross has formed in the price chart.
2. Development Activity for Polkadot has been decreasing for 13 days, indicating a loss of momentum. This, along with RSI, hints at a possible test of the price support level at $8.30.
3. The RSI for Polkadot indicates price stagnation, with recent price gains exceeding losses but not yet reaching an overbought threshold. Other indicators, such as development activity and EMA lines, also paint a bearish scenario, possibly leading to a consolidation phase for DOT.