Polkadot (DOT) Project Overview + Chart Analysis (Targets)

3 Sep 2020

About Polkadot

Polkadot is an open-source project founded by the Web3 Foundation. Polkadot is a sharded protocol that enables blockchain networks to operate together. The DOT token serves three distinct purposes: governance over the network, staking, and bonding.

Source: Coinmarketcap.com
Website: polkadot.network
-------

Polkadot (DOTBTC) is new and we have little history.

So far, short-term, we are looking bullish with prices moving above EMA10 and facing resistance.

We also have what appears to be an ascending triangle format.

Multiple targets are marked on the chart as well as the main support level in case prices drop.

This is a young chart, we have no history here so everything can change.

If you do decide to trade, make sure to build a plan, use a tight stop-loss and remain open to all scenarios.

This is not financial advice.

Namaste.