Polkadot cryptocurrency can be expected to rise further to the next resistance level 0.870 (former strong support from the start of June).
- Polkadot reversed from support zone
- Likely to rise to resistance level 0.870
Polkadot cryptocurrency recently reversed up from support zone between the key support level 197.30 (as can be seen from the daily CHFJPY below), lower daily Bollinger Band and the support trendline of the daily Wedge chart pattern from June. The upward reversal from this support zone stopped the earlier minor impulse wave iii – which belongs to the downward impulse wave 3 of the strong multi-month downward impulse sequence (3) from the end of February.
Given the strength of the support level 197.30 and the predominantly bullish sentiment seen across the cryptocurrency today (on USA-Iran negotiations progress), Polkadot cryptocurrency can be expected to rise further to the next resistance level 0.870 (former strong support from the start of June and former top of wave ii from the start of July).