Polkadot Breaks Over an Early Barrier, Kicking off an Upswing

Key Resistance Levels: $10, $12, $14
Key Support Levels: $18, $6,$4

Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot (DOT) prices have resumed their upward trajectory, kicking off an upswing. The cryptocurrency asset has broken through the $6.50 resistance mark. According to previous pricing action, the uptrend has been halted for the past five days. The $6.50 resistance level is currently restraining the upward movement. The cost of DOT has been fluctuating between $6.00 and $6.50. If buyers can break through resistance at $6.50 and $6.81 on the upside, the altcoin will reach a high of $7.41. If the altcoin is rejected from the current high, it will eventually fall to its prior low of $5.59. At the time of writing, the altcoin is selling at $6.56.

Daily Chart Indicators Reading:
Polkadot is at level 66 of the Relative Strength Index for period 14 and is in the positive trend zone. As long as the price bars are above the moving average lines, the coin will constantly increase in value. The crossing of the moving average lines is bullish. In other words, a buy signal is generated when the 21-day line SMA crosses over the 50-day line SMA.

Polkadot (DOT) Medium-term Trend: Bullish
Polkadot is trading above the moving average lines on the 4-hour chart. This suggests that prices will increase in a positive direction. On the upside, the $6.50 overbought area has been where upward advances have been rejected. If the initial barrier is overcome, the uptrend will begin.

4-hour chart Chart Indicators Reading
The DOT price is moving upward over the daily Stochastic level of 70. When the price bars are above the moving average lines, the altcoin will increase.

General Outlook for Polkadot (DOT)
Polkadot is still ascending, kicking off an upswing. The uptrend will restart if the $6.50 barrier level is overcome. The price of the altcoin is currently between $6.00 and $6.50. However, the overbought condition of the cryptocurrency can prevent it from moving higher.


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