io dashboard to see if there is any problems with the underlying data for this cryptocurrency. If you find this video useful and informative hit the like button, i really do appreciate that if you are new to the channel, why not subscribe tap the bell, select all notifications and you will not miss another update right with all that said, done out of the Way lets dive into this technical analysis here for polka dot were going to start with this weekly chart, guys just talk through what were seeing here. We obviously have seen a good surge to the upside with this third wave, and ultimately, we actually saw some pretty interesting kind of price targets. With this right, we actually saw us come up to the 49 range before coming down in this healthy correction towards this lower area of 10. This was a fantastic opportunity if you missed on the way up to basically build a nice position in polka dot from here. We have seen a nice surge and a good recovery if you will to the upside so far, but we have found rejection at the 702 fib area now. Currently, we are looking at a 4.236 extension of hundred and seventy seven dollars. This represents three hundred and eighty five percent from the current position. This should be a target that we should all have in mind and something that is relatively quite easy for polka dot to do, as we have seen, solana do some very similar moves and not too recently.

Obviously, we can see that we are looking to try to get above the 786 and were going to get into the smaller time frames to review whether or not thats likely to happen soon or were going to have a pullback. First, we can see that the stochastic is in the overbought area, and this is not a problem. This is an area that we have been tracking before for several months, in the same way that we are down in the oversold area for a couple of months as well. So entering this area is actually a pretty good sign that we are looking to move up nicely to the upside on this weekly chart. Overall, the structure is looking pretty good and we havent really got too many things to concern about uh to concern ourselves with on this weekly chart. But we do obviously need to see what is going on with the smaller time frames and relation to our fibonacci 702 area. Okay, so the next thing were going to do is jump down into our daily view. This is where we can see exactly what was going on with our fib area here. Okay, so, as we said before, right we were rejected from the 702. The 702 is a key area on the fibonacci retracement tool. Okay, this particular area – you do have to add it manually, but it resonates really well with a lot of traders and you do find that this is an area of resistance and support quite frequently here at 38 and um.

Six cent comes our resistance line. We can see that weve actually wicked above it and wicked to it a couple of times, and today we were rejected from this line altogether. This is again is uh. You know counter to what were seeing with the rest of the crypto space. Where were seeing good surges to the upside bitcoins up there at 48k at the point of recording this video, yet we are actually slipping down about six percentage points on polka dot just here today, so we have actually had a bit of a recovery to that. But overall we are um, we are inside this zone. So as long as we stay above the six one eight down here, which is the previous area of resistance, we should be doing. Okay, then, hopefully well be giving up nicely to push past the 702 get above the 786 and take on the next level and get some price discovery and set some new all time highs. Overall, the stochastic is interesting levels. This is an area that we were rejected to uh rejected from previously, as were approaching, the 61a bitcoins pullback initially set on motion and nice wave to the upside here, as we did go into the oversold area and allows us to grow nicely. What well look for at this point in time is to continue the growth back to the upside, where we can see us being tracking in the overbought area. If we can track back in this overall area for some time, we should be in a pretty good position to continue the growth to the upside here for polka dot and, as i indicated in the last video loads of fantastic things, are going on in the space.

The ecosystem is heating up and there is a hive of activity with new projects that are looking to launch overall theres, an inbox on our side. Full of offers for promotional content now, obviously were not just going to jump on any promo. We have to do a lot of due diligence before we actually do anything, and what were seeing here in the part of that dude is a huge influx of promotional content for the polka dot ecosystem. Overall, i think theres going to be a surge of new kind of price discovery for dot in the very near future, as the promos and everything else will start kicking off on youtube shortly, i would have thought across many different channels. Overall, this is a pretty good tale of things to come and i do think were going to start seeing some pretty good traction in the long run here for polka dot up towards our 177 dollar price target. In the same way that we saw solana hit a 185 dollar price target overall, this point in the video we are going to jump over to the avaya dashboard. We like the avaya dashboard, because this allows us to actually take a look at the underlying data that actually helps us understand how a cryptocurrency is um working and if there are anything that we should be concerned with, there is, of course, a link to the evidence. I o dashboard in the description below it is free to use, go ahead, check it out and youll get a little bit more insight on your cryptocurrencies.

Here we can see that a polka dot is an a2 rated overall. This is actually a pretty good uh indication. It is the second best you can have within the platform, so theres, not many major issues. According to that, we can take a look at a little bit deeper though, and dive into what they call power factors here we can see the ami had. Ratio is also an a2 rating, so ami had ratio relates to the liquidity, and is there any issues with liquidity as an a2 rating? Absolutely not so everything theres. Looking pretty good, we could take a look at the fear and greed index here for polka dot. This is an a1 which is the highest rating you can get here in this ecosystem of evada. I o overall, that is indicating an extremely greedy scenario here for polka dot and, as a result, you could start to see a lot of fomo coming in with that being said, though, when things are extremely greedy like this, this is usually when traders would be taking Profits so again, we have to be monitoring that situation closely as we monitor these key areas and have these small pull backs. Overall, though, i do think thats a very bullish tail to say, theres going to be a lot more fomo, a lot more retail investors diving into the world of polka dot very very soon. Overall, the sharp ratio is an a2 rating well above our 50 day average and tracking really well, so the risk to reward ratio is actually in our favor, which is good to see the polka dots uh moving averages again an a2 rating, no problem with the averages Here for polka dot either the a1 profitability is a good indication of things to come, as that is where it has been previously peaking value demand and a2.

Overall. This is actually looking like a very, very good cryptocurrency to potentially be investing in overall, no indicating uh theres, nothing being indicated here on the evidence, io dashboard of concern. Overall, everything is looking very good and we should be starting to see a nice push back to the upside shortly and guys. This video has been sponsored by cheeky, crypto and specifically the cardano ada pool. If you are looking to support the channel and rf it here to communicate out all the recent kind of news, articles, price changes and price action of your favorite altcoins, then theres no better way than delegating your aider into our stake pool. By doing so, youll not only support the channel, but you will also earn a juicy return and a nice passive income on your ada holdings. Its really simple to do guys just load up your uri or deadliest wallet, drop your ada into the wallet and then find the cheeky crypto pool via the ticker cheek. In doing so, youll earn a nice juicy return and support the channel. There is no better time to do so, so why not delegate to cheeky crypto today, but lets take a look at that hourly view and see if it also comes to the same conclusion. Obviously we have been rejected from the 702, so we have to be mindful over that, but we did actually have a good event here where we broke through the previous resistance. It wasnt that long ago, since ive done the polka dot update, we actually was talking about.

Potentially, having a pullback at this point here, as we were overbought in this area of the stochastic, but actually we breached our trend here and we actually surged back to the upside before having a pullback. And this is an interesting tell because we started to actually track down with setting these lower highs on that way. Um. Overall, though, our upward trend is where we were broken out from previously. This upward trend here also is a tell that we could come down to this in the next few hours and actually start to bounce from this area back to the upside again, we are looking to get above that 702 and go after the 786, so we have To be mindful, that actually were looking for a support line and what we could find is our trend line. Actually is that catalyst? We see huge change to the upside overall, where we are sat right now from a candle point of view and a sarcastic overview, and we should be looking to see a pullback in the near future now. Ultimately, that does not mean that we have to see a significant price drop, actually its more that we need to see the momentum drop out of our stochastic and allow us to trade sideways, and we are, of course, falling down a little bit, but we will eventually Stabilize and it looks like we are stabilizing in a nice area just here around the 36 range, so um, a small pullback could be something that we could see, but ultimately i do think that we are likely to continue this push um as we come closer and Closer to our trend line to the upside overall – and there are no real major issues here when it comes to polka dot, we can of course just draw on this downward trend, so you can see that a little bit clearer and so basically were kind of inside This channel here heading towards this upward trend, ultimately theres, nothing major on the kind of the large time frames.

The weekly is looking very good. The daily is looking very good and we just need to kind of get through this small time volatility here. On the shorter time frames, and with that being done and out of the way we should start to see a pretty good surge to the upside, my anticipation would be that would come down to this trend line here and coming into tomorrow afternoon, uh, where potentially, we Could then see this spike above the 702 going after the 786? Again, we will be looking to potentially have a pullback once we do get to that top line and then break through and test that as our new support. Overall, we are probably a few weeks away from good traction, but everything is moving along nicely. Timing is the hardest thing to gauge, though guys so um just kind of barely abide. Your time be patient and um. You should hopefully start to see some pretty interesting moves here with polka dot. Overall, though, i am pretty impressed with the progress so far and i do think we are likely to see some interesting price targets that get acquired in the very near future.