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Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot’s (DOT) price has continued its upward trend as it holds above $9.50. On March 14, the DOT price surged to $11.85, but was rebuffed. The cryptocurrency price has retraced above the 21-day moving average line, or the break-out level of $9.58.
If the cryptocurrency price remains above the moving average lines, the altcoin will resume its upward trend. DOT prices will rise and return to the prior high of $11.50. On the other hand, if the DOT price falls below the 21-day SMA, it may fall above the 50-day SMA, or $8.50 low.
Polkadot is now worth $10.12 at the time of writing.
Daily Chart Indicators Reading:
Following the rejection at the recent high, the cryptocurrency price bars are now above the moving average lines. If the price bars remain above the moving average lines, the cryptocurrency asset will begin its upward trend.
The price bars are holding as bulls purchased dips at the $9.21 low. The cryptocurrency’s support line is the 21-day simple moving average (SMA).
General Outlook for Polkadot (DOT)
Polkadot is trading above the moving average lines as it holds above $9.50. This suggests that cryptocurrency may be on the increase. The upward trend will restart if the altcoin remains above the moving average lines. Since December 26, 2023, the altcoin has traded above the breakout level of $9.58.
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