Hey guys,
Polkadot looks good for buying, the instrument has broken the descending local trend, as well as the price at the breakdown zone of rectangular consolidation.
On the daily chart it is seen that the price has stopped at its moving averages.
Also we have injected a large volume, after which the price does not roll back, which indicates the control of buyers and this is a bullish sign.
Based on this, we can consider buying at the breakdown of the local sidewall, or above $7.7-7.8. Cancel scenario and stop zone below 6.8 and more distant 6.4 depending on your risk profile. Always DYOR.
Stay tuned.
