Polkadot, Ethereum & SafeMoon — Asian Wrap 13 May

Polkadot price could continue the steep decline, and a short opportunity could present itself, but the technicals need more time to establish a clear entry. Polkadot price, like most cryptocurrencies in the space, is under considerable bearish pressure. Today, the bears are moments away from printing a bearish engulfing candlestick on the 3-day chart.

 

ETH price is setting up a classic trading pattern, an opportunity to go short could present itself in the days to come. Ethereum price is currently trading at $1935 as the bears have pushed into the lowest price territory for 2022. Ethereum price sell-off is primarily correlated with the overall sentiment in the crypto market regarding security vs. asset arguments

 

SafeMoon price action has been a textbook example of volatility and whipsaws. During the Thursday trade session, SafeMoon was up nearly 130%. However, almost all of those gains were promptly sold. Despite the selling, SafeMoon is still 30% higher for the day.

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