Flow

Polkadot

Notable

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/polkadot-price-may-react-to-positive-investor-sentiment/" data-wpel-link="internal">Polkadot Price May React to Positive Investor Sentiment</a> 
Polkadot’s (DOT) price may react to the positive change in investor sentiment despite negative market developments. Considering the <a href="https://en.coin-turk.com/recent-developments-in-bitcoin-and-altcoin-markets/" data-wpel-link="internal">altcoin</a> is moving within a descending channel model, a breakout chance is high. Polkadot price may witness the impact of DOT holders changing their attitude towards the asset. 
<h2 class="p1" style="text-align: justify" id="notable-data-for-polkadot">Notable Data for Polkadot</h2> 
This development can be found in the Chaikin Money Flow (CMF), which entered the positive region after about a month. This change indicates a significant increase in buying pressure, showing renewed interest from <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> in Polkadot. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365406 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/dot.webp" alt="" width="1805" height="808"> 
The positive CMF highlights market sentiment indicating money is flowing into Polkadot. This flow is usually associated with increased demand and potential upward price movement, making it an important metric for investors to watch. 
In addition to CMF, Polkadot’s funding rate is also slightly positive, signaling a balance between long and short contracts. This balance shows market sentiment is leaning towards optimism with a preference for long positions. The positive funding rate and CMF together indicate that long-term contracts currently dominate the market. This dominance could lead to sustainable bullish momentum for Polkadot, encouraging more investors to take long positions. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365405 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/coinglass-5.webp" alt="" width="1742" height="431"> 
<h2 class="p1" style="text-align: justify" id="dot-chart-analysis">DOT Chart Analysis</h2> 
Polkadot price is currently moving within a descending channel and attempts a breakout every few days. The descending channel is characterized by a series of lower highs and lower lows, indicating a downward trend where prices move between parallel lines. 
According to the model, a breakout could increase the altcoin price by 6%, pushing it above $6.3. The market supports this outcome, and if DOT manages to capitalize on it, further growth will be possible. However, if the breakout fails, Polkadot price could remain stuck in this pattern. A drop below $5.7 could send DOT to $5.2 or $5.0, invalidating the bullish thesis. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365404 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/dot-grafik.webp" alt="" width="1804" height="808"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/polkadot-price-may-react-to-positive-investor-sentiment/" data-wpel-link="internal">Polkadot Price May React to Positive Investor Sentiment</a></h5>

Polkadot Price May React to Positive Investor Sentiment

Table of Contents

COINTURK NEWS

Other articles published on Jun 26, 2024

Mummy Tate Memecoin Will Jump Another 11,000% After Hitting $150,000 Market Cap, Looks to Challen...

Solana & Dialect Unveil Actions and Blinks

Why is Notcoin (NOT) Price Up?

Arbitrum Price Near Its All-Time Low: Will It Bounce Back Soon?

Crypto Politics Influence US Elections

MoonBag Presale – Top Crypto of the Year against Floki Inu and Hedera

Join our free newsletter for daily crypto updates!