Polkadot’s dowry organized a strong recovery after falling up to 7%, bouncing $ 3.91 to $ 4.08 in the midst of high negotiation volumes, according to the Technical Analysis model of Coindesk Research.
The model has shown that the dowry has navigated substantial price oscillations during the period 24 hours a day from July 23 from 7:00 to July 24, 18:00, oscillating between $ 3.91 and $ 4.20 before settling at $ 4.08.
Earlier this week, Securities and Exchange Commission (SEC) withdrew its accelerated approval for a fund negotiated in exchange (ETF) in crypto bit bit
The Polkadot rebound came while the wider cryptography market has also increased, with the wider market gauge, the Coindesk 20, recently up 1.4%.
During recent negotiations, the DOT was down 2% over 24 hours, exchanging about $ 4.09.
Technical analysis:
- Overall negotiation plux of $ 0.28 representing a volatility of 7% between $ 4.20 maximum and a minimum of $ 3.91.
- The level of critical support established at $ 3.96 with high volume confirmation greater than 4.28 million people.
- Resistance area identified at $ 4.10 showing price rejection models.
- A volume peak of 73,061 during the decline phase indicating institutional sales pressure.
- The recovery model suggests a potential continuation to a target level of $ 4.13.
- A clear drop of 2% compared to the opening despite the strong rebound of the hollows of the day.
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