@Polkadot Network Candle Chart Explained 📊
A candlestick (candle) chart is one of the most popular ways to track
#DOT coin price movements. Each candle represents the price action over a specific timeframe such as 1 minute, 15 minutes, 1 hour, 4 hours, or 1 day, showing traders both trend direction and market sentiment.
1️⃣ Structure of a
#DOT Candlestick
Each candlestick contains four key price points:
Open – Price at the start of the period
Close – Price at the end of the period
High – Highest price reached during that period
Low – Lowest price reached during that period
2️⃣ Candle Colors
🟢 Green Candle –
@Dot closed higher than it opened (bullish)
🔴 Red Candle –
#DOT closed lower than it opened (bearish)
Example:
If DOT opens at $6.50 and closes at $6.80, the candle will be green, indicating buyers were stronger in that period.
3️⃣ Candle Body and Wicks
Body – Distance between open and close prices
Upper wick – Highest price reache
Lower wick – Lowest price reached
📌 Long lower wick → buyers pushed the price up.
📌 Long upper wick → sellers pushed the price down.
4️⃣ Popular Candlestick Patterns for
@Dot Hammer – Indicates a potential bullish reversal
Shooting Star – Indicates a potential bearish reversal
Doji – Market indecision
Bullish Engulfing – Strong buying signal
Bearish Engulfing – Strong selling signal
5️⃣ Platforms to View
@Dot Candle Charts
You can check DOT candlestick charts on:
Binance
TradingVie
CoinMarketCap
💡 Tip: Combining candlestick patterns with RSI, MACD, and Moving Averages can improve your trading strategy for
@Dot If you want, I can make a full guide of the top 7
$DOT candlestick patterns for day trading and swing trading, which can help spot entry and exit points more accurately.Do you want me to create that guide.DYOR
@Dot #dot $DOT