Polkadot, Monero, Dogecoin Price Analysis: 24 November – AMBCrypto EnglishNovember 24, 2020
Bitcoin touched $19,000 and its surge coincided with a session of losses for many top 50 cryptocurrencies, reinforcing the notion that capital chases a Bitcoin surge and flows out of the altcoin market.
Polkadot and Dogecoin saw a sizable pullback on the most recent trading session, although their uptrend was unbroken. Monero saw an undocile trading session play out and could be headed for a dip in price as well.
Polkadot has been exhibiting a bearish divergence between price and momentum and finally saw a pullback.
The Fibonacci Retracement tool for the move from $3.6 to $4.95 presented a 27% and 62% extension level as targets for DOT upon breakout past $5 level.
A breakout materialized and DOT reached a local high just past $6.035, the 62% extension of the aforementioned move.
DOT can expect to see a pullback to $5.4 before another move upward. The RSI can also indicate the end of the uptrend if it dropped below neutral 50 and retested it as resistance,