Polkadot Posts Healthy Bullish Recovery Amid Crypto Market Resurgence

Polkadot Posts Healthy Bullish Recovery Amid Crypto Market Resurgence

The recent resurgence across the crypto market, fueled by Bitcoin, has helped Polkadot (DOT) regain decent bullish ground over the past few sessions. The ninth-largest cryptocurrency gained over 22% over the past week and currently trades at $18.10.

While the overall market sentiment is not completely bullish yet, altcoins have had a better performance streak than Bitcoin and Ethereum over the past few days.

The cryptocurrency industry is getting dragged down by the growing spate of regulatory scrutiny across the globe. Also, the energy-intensive process involved in mining BTC has triggered extra declines for the primary cryptocurrency and the industry.

However, this is where crypto players like Polkadot are making significant impacts, boasting of better energy-efficient transaction procedures than others. Polkadot—touted as the ‘Ethereum killer’—has more use cases than many other digital assets, especially with the impending launch of its parachains that would give its users blockchain interoperability capabilities. DOT has recorded significant gains since the successful parachain auctions on the cryptocurrency’s canary network, Kusama.

Meanwhile, top crypto analyst ‘The Crypto Dog’ forecasts that we could see a rally in Bitcoin in the coming months, which could push DOT by 83% in the near term.

Key Polkadot Levels to Watch — August 2

Following a goodish bounce over the past week, Polkadot peaked at the $20.00 psychological resistance before correcting by more than -10% to $17.60 earlier today. That said, bulls need to facilitate a rebound from the $17.60 support back to the $20.00 area over the coming hours or risk an additional correction to the $16.00 round figure, where our ascending trendline resides.

DOTUSD – 4-Hour Chart

DOT has wandered into overbought market conditions, based on the 4-hour MACD indicator, and needs to cool off soon, further confirming the possibility of a correction to the $16.00 area.

Meanwhile, our resistance levels are at $20.00, $22.00, and $24.00, and our key support levels are at $17.60, $16.40, and $14.00.

Total Market Capitalization: $1.6 trillion

Polkadot Market Capitalization: $17.7 billion

Polkadot Dominance: 1.1%

Market Rank: #9

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Resumes Uptrend, Battles the Resistance at $15.24

Polkadot (DOT) Resumes Uptrend, Battles the Resistance at $15.24

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Today, Polkadot’s (DOT) is retracing after facing rejection at the $15.60 resistance. The crypto fell to $14.40 low and resumed an upward move. Since July 26, Polkadot has been facing rejection at the $15.24 resistance. On the upside, if buyers breach the $15.24 high, the market will rise to $17 high. On the other hand, if the DOT/USD faces rejection, the DOT price will continue to fluctuate between $13 and $15.24.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day and the 50-day SMAs are sloping southward indicating the downtrend. The price bars are below the moving averages which suggest further downsides.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is making an uptrend. The uptrend is facing rejection as price fell above the 21-day Support. The uptrend is likely to continue if the 21-day SMA support holds.Meanwhile, on July 21 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the DOT price will rise to level 2.0 Fibonacci extensions or level $18.04.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The crypto is below the 50% range of the daily stochastic. It indicates that the altcoin is in a bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. The altcoin has a bullish crossover as the 21-day SMA crosses over the 50-day SMA. This indicates a buy signal.

General Outlook for Polkadot (DOT)
DOT/USD is still trading in the bearish trend zone. Presently, crypto has resumed an upward move. The upward move is facing rejection at the 50-day SMA. If price breaks above the 50-day SMA, the crypto will be in the bullish trend zone.



You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Faces Rejection at $13.50, Revisits Previous Low at $10.36

Polkadot (DOT) Faces Rejection at $13.50, Revisits Previous Low at $10.36

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price has broken below the previous low at level $13.09. The altcoin has fallen to another low of $10.36. However, at the recent low, the bulls bought the dips as the market resumed upward. Polkadot price corrected upward to the high of $13.50. The upward move could not continue as the market reached the overbought region. Sellers have emerged as the altcoin resumes selling pressure.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is at level 41 of the Relative Strength Index period 14. It indicates that the crypto is in the downtrend zone and below the centerline 50. The 21-day and the 50-day SMAs are sloping southward indicating the downtrend. The price bars are below the moving averages which suggests further downside.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is making a brief uptrend. The uptrend reached the high of $13.50 but faced rejection. DOT/USD is now turning from the recent high. Meanwhile, on July 21 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the DOT price will rise but reverse at level 1.272 Fibonacci extensions or level $13.52. From the price action, Polkadot has tested the Fibonacci level and it is reversing.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The crypto is below the 20% range of the daily stochastic. It indicates that price has fallen to the oversold region. Buyers are expected to take control of price. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
DOT/USD has resumed a downtrend as buyers failed to breach the $13.50 high. The market is likely to fall to retest the low at $10.36.DOT price is likely to retest the previous low at $10.36 and resumed upward.

You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (Dot) Consolidates Above $15 as Sellers Threaten to Short

Polkadot (Dot) Consolidates Above $15 as Sellers Threaten to Short

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polka dot (DOT) Price Long-term Trend: Bearish
Polkadot (DOT) is still in a downward correction. Today, the bears push DOT price to the low of $14.80 as bulls buy the dips. The upward move was short-lived as bulls were rejected twice at the $15.40 high. As a result of the rejection, the selling pressure has resumed to the downside. Nonetheless, if buyers had pushed the DOT price above $17 and the bullish momentum is sustained, the market would have risen to $21.50 high. The upward move has been repelled. However, if buyers are repelled at the recent high, DOT price is likely to fall to breach the $13 support.

DO/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is at level 40 of the Relative Strength Index period 14. It indicates that crypto is in the downtrend zone and below the centerline 50. The 21-day and the 50-day SMA are sloping southward indicating the downtrend. The price bars are below the 21-day and the 50-day SMA which suggests further downside.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is in a downward correction. The rejection at the $17.50 resistance made the altcoin fall to the previous low. On July 9 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT price will fall to level 1.272 Fibonacci extensions or level $14.07 and reverse. The crypto will reverse to 78.6% Fibonacci retracement level where it originated.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The crypto is below the 20% range of the daily stochastic. It indicates that price has fallen to the oversold region. Buyers are expected to take control of price. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
The market has reached bearish exhaustion as the altcoin may reverse. The crypto has been in a downward correction since June 22. According to the Fibonacci tool, the market will reverse at level 1.272 Fibonacci extensions or level $14.07.



You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) In a Downward Correction, Fluctuates between Levels $13 and $17

Polkadot (DOT) In a Downward Correction, Fluctuates between Levels $13 and $17

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polka dot (DOT) Price Long-term Trend: Bearish
On June 22, Polkadot (DOT) fell to the previous low above $13. The bulls bought the dips to resume upward. For the past week, the DOT price has been fluctuating in a confined range between $13 and $17. The bulls have retested the resistance at $17 twice but were repelled. Consequently, the selling pressure has resumed as price approaches the lower price range. Meanwhile, on April 23 downtrend, a retraced candle body tested the 61.8 Fibonacci retracement level. The retracement indicates that DOT price will fall to level 1.618 Fibonacci extension or level $13.51. DOT price is failing and it is approaching the lower price range.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot has fallen to level 36 of the Relative Strength Index period 14. It indicates that crypto is in the downtrend zone and below the centerline 50. The 21-day and the 50-day SMA are sloping southward indicating the downtrend.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is falling after rejection from the $17 high. The current downtrend is likely to reach the previous low at $13.70. On June 30 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT price will fall to level 2.0 Fibonacci extensions or level $14.24.

DOT/USD – 4 hour Chart

4-hour Chart Indicators Reading
Polkadot (DOT) is below the 20% range of the daily stochastic. It indicates that price has fallen to the oversold region. Buyers are expected to take control of prices. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price is now revisiting the previous low at $13.73. The altcoin has also reached the overbought region of the market. Buyers are expected to emerge to push prices upward. According to the Fibonacci tool, DOT price will fall to level 2.0 Fibonacci extensions or level $14.24.


You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Reaches Oversold Region as Buyers Are Likely to Emerge

Polkadot (DOT) Reaches Oversold Region as Buyers Are Likely to Emerge

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Since June 14, Polkadot (DOT) has been falling after the rejection at $29. The selling pressure has broken below the moving averages which suggests a further downward movement of prices. The current price fall was the failure of buyers to break the previous lower highs. For the past five days, DOT price was making a series of lower highs and lower lows. The selling pressure resumes as bulls fail to break the lower high $26 high. The current downtrend is likely to extend to the low at $20.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is at level 43 of the Relative Strength Index period 14. The crypto is in the bearish trend zone and below the centerline 50. The 21-day and the 50-day SMA are sloping southward indicating the downtrend. The crypto’s price has broken below the moving averages which suggests a further decline.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is in a downward move. The selling pressure has been confirmed as price breaks below the moving averages. Meanwhile, on June 4 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.618 Fibonacci extension or level $20.91.

DOT/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOT price has fallen below the 20% range of the daily stochastic. It indicates that price has fallen to the oversold region. It means that selling pressure has reached bearish exhaustion. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price is falling as the altcoin revisits the previous lows. DOT price has fallen to the oversold region as buyers are likely to emerge.

.
You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Falls to $24.06 Low, Resumes Upward Move

Polkadot (DOT) Falls to $24.06 Low, Resumes Upward Move

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36


Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot has continued its downward move. Today, the altcoin has dropped to as low as $24.06. On May 29, the coin dropped to $20 low as bulls bought the dips. The crypto’s price corrected to $28 and was resisted. This caused the current downward move of the coin.
The coin is falling and perhaps approaching the previous low of $18 or $13.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot is now at level 44 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone and below the centerline 50. The moving averages are sloping downward indicating the downtrend. DOT price is below the moving averages which suggest that the coin is in the bearish trend zone and capable of falling.

Polkadot (DOT) Medium-term Trend: Bearish
On the 1 hour chart, the altcoin has fallen to the low of $ 24. The coin has reached bearish exhaustion. Meanwhile, on June 3 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT will fall to level 2.0 Fibonacci extension or level $24.98. From the price action, the DOT price has fallen to the low of $24.06. Upward move likely.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is below the 20% range of the daily stochastic. It indicates that the market has fallen to the oversold region. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price has fallen and has reached bearish exhaustion. The coin has fallen to the oversold region of the market and buyers are likely to emerge. DOT is consolidating above $24 support

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Is in a Downward Correction, Fluctuates between $16 and $25

Polkadot (DOT) Is in a Downward Correction, Fluctuates between $16 and $25

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot is in a downward move. On May 23, DOT price has dropped to the low of $13.73 as bulls bought the dips. The altcoin price corrected upward to $25 but faces another rejection. The coin has declined to the low of $20. It is presently below the moving averages which suggest that it is capable of the further downward move.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot has fallen to level 39 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone below the centerline 50. The crypto’s price has broken below the moving averages which suggests that the coin is in the bearish trend zone and capable of falling. The moving averages are sloping horizontally indicating the sideways trend.

Polkadot (DOT) Medium-term Trend: Bearish
On the Daily chart, the altcoin has fallen to the low of $13.73 and corrected above level $20. Meanwhile, on May 19 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.272 Fibonacci extension. From the price action, the DOT price is retracing on the downside.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price is falling and has reached the oversold region of the market. Buyers are expected to emerge. The altcoin is trading below the moving averages which are prone to further downward move.

You can purchase crypto coins here: Buy Coins


Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Retraces From $30 High as Sellers Threaten to Short

Polkadot (DOT) Retraces From $30 High as Sellers Threaten to Short

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Today, DOT price is falling after rejection from the $32 high. In the previous price action, Polkadot plunged to $16 low and pulled back as bulls bought the dips. However, the uptrend was short-lived as DOT price faced resistance at $32.50. Buyers could not sustain the bullish momentum above the recent high. Meanwhile, on May 19 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT price will fall to level 1.618 Fibonacci extension .

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
Polkadot has fallen to level 40 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone below the centerline 50. The crypto’s price has broken below the moving averages which suggests that the coin is in the bearish trend zone and capable of falling. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin has been in a sideways trend since February. On May 20, the crypto plunged to $21 low as bulls bought the dips. The price corrected upward but the uptrend is facing resistance at the high of $30. Meanwhile, on May 19 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT will fall to level 2.0 Fibonacci extension. From the price action, the altcoin is retracing after the rejection from the recent high.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 40% range of the daily stochastic. It indicates that the market is in a bullish momentum. This is contrary to the price action which is retracing from the recent high. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) price is in a downward correction. The altcoin is facing rejection from the recent high. In the meantime, the crypto’s price is fluctuating between $16 and $30. The altcoin will trend if the levels are breached.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

Polkadot (DOT) Price Breaks Above the Resistance Levels, Faces Rejection at $44

Polkadot (DOT) Price Breaks Above the Resistance Levels, Faces Rejection at $44

Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot (DOT) price is making an impressive upward move. Buyers have broken the resistance at $40 and $42. Nonetheless, if the current bullish momentum is sustained, DOT price will reach a new high of $48. However, in the previous price action on April 5 and 17, DOT prices reach the highs of $45 and $48 and were repelled. The altcoin fell to the range-bound zone and resume fluctuations between $28 and $40. Today, an uptrend is facing resistance at the recent high.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
. The altcoin has risen to level 60 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone above the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4 -hour chart, DOT price is in a strong uptrend. The price has broken the initial resistance level. On May 5 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that DOT is likely to rise to level 1.272 Fibonacci extension or the high of $42.69. The market is expected to reverse at the recent high.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. DOT price has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the price movement.

General Outlook for Polkadot (DOT)
DOT/USD is presently in an upward move. Buyers have pushed DOT price above the resistance level but may not sustain the bullish momentum. The selling pressure above the resistance is overwhelming. Besides, the altcoin is likely to fall as it reaches the overbought region of the market.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.