Polkadot Consolidates Above $4.00 at the Chart’s Bottom

Polkadot (DOT) Price Long-term Trend: Ranging

Polkadot’s (DOT) price is currently consolidating above the $4.40 support at the chart’s bottom. The bulls bought the dips as the altcoin began its sideways advance above the $4.00 support but below the resistance at $5.50 or the moving average lines. The cryptocurrency asset has dropped to the market’s oversold area.

The altcoin has achieved bearish fatigue. The Doji candlesticks have restricted the price movement. Polkadot will begin its upward trend when buyers keep the price above the resistance at $5.50 or the moving average lines. The price of the cryptocurrency is currently consolidating above the $4.00 support ahead of a favorable move.

Technical indicators:  

Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1

Polkadot Indicator Analysis 

The price bars are located at the bottom of the chart and beneath the moving average lines. The altcoin consolidated near the chart’s bottom due to the appearance of the Doji candlesticks. The cryptocurrency’s sideways movement is indicated by the horizontal moving average lines. The altcoin’s sideways movement signals that the bearish trend is coming to a conclusion.

General Outlook for Polkadot (DOT)

Polkadot’s pricing has dropped to $3.60 at the chart’s bottom. The price of DOT has risen above the $4.00 support on the 4-hour chart. The present range-bound move is the outcome of the upward correction ending at the high of $5.30. As the crypto signal hits the chart’s bottom, it is currently range-bound.

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