25 April, 2024

Polkadot Surges Past $10 as Fetch.ai Hits All-Time Highs

04 Mar, 2024

04 Mar, 2024

  • Polkadot has surged above $10, signaling a new trend, with potential 20-30% corrections expected.
  • Fetch.ai is experiencing Price Discovery, hitting All-Time Highs consecutively, with cautious overbought indications.
  • Traders are advised to remain vigilant, monitoring RSI and MACD for potential shifts in momentum.

Polkadot (DOT) has surged above $10, signaling a new trend according to Michaël van de Poppe, a prominent crypto analyst. As DOT experiences a convincing higher low, traders eye potential buying opportunities amid anticipated 20-30% corrections towards $17. The current Polkadot price stands at $10.09, with a 9.31% increase in the last 24 hours, accompanied by a trading volume of $805,957,834.

Consequently, the Relative Strength Index (RSI) for Polkadot on the 4-hour price chart reads at 73.90, suggesting possible overbought conditions. While the Moving Average Convergence Divergence (MACD) indicates bullish momentum at 0.41, caution prevails as traders await confirmation of a sustained uptrend before making significant trading decisions.

Source: TradingView

On the other hand, Rekt Capital, a crypto trader and analyst, noted that Fetch.ai (FET) continues its Price Discovery phase, hitting an All-Time High every day consecutively. Despite a slight downtick of 0.24% in the last 24 hours, the current price for Fetch.ai is $1.84, with a trading volume of $324,882,834 and a market cap of $1,534,424,535.

Moreover, the RSI for Fetch.ai on the 4-hour chart stands at 64.39, indicating a potential slight overbought condition. The MACD reading of 0.1067 suggests a mild bullish momentum, hinting at the possibility of the ongoing uptrend persisting in the short term.

Source: TradingView

However, caution is advised for both Polkadot and Fetch.ai traders as potential corrections or reversals loom amidst the market’s volatility. While Polkadot’s surge signifies a new trend, Fetch.ai’s continued growth in the Price Discovery phase underscores its potential for further gains.

Market participants are advised to remain vigilant, monitoring key indicators such as RSI and MACD for potential shifts in momentum. With crypto markets known for their volatility, prudent risk management strategies are essential to navigate through price fluctuations and capitalize on trading opportunities.



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