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Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot’s (DOT) price has remained within its current range as it hits the $7.70 high. The altcoin’s price ranges from $6.20 to $7.70. The range-bound levels have not been broken by either the bulls or the bears. The cryptocurrency is expected to reach the highs of $8.50 and $9.00 if the bulls overcome current resistance levels.
Polkadot will fall back into its current price range if the bulls fail to break the resistance level. Currently, price movement is confined above the moving average lines and below the barrier at $7.70. The DOT/USD exchange rate is currently $7.52.
Technical indicators:
Key Resistance Levels: $10, $12,$14
Key Support Levels: $5, $3, $1
Daily Chart Indicators Reading:
The price bars are above the moving average lines, however the upward trend has been halted by resistance at $7.70. The lines slope upward as the price moves above the moving average. Doji candlesticks are formed, forcing the price movement to be stationary.
General Outlook for Polkadot (DOT)
Polkadot continues to trade in a range as it hits the $7.70 high. On the 4-hour chart, the cryptocurrency’s price fell below the moving average lines but was halted by the 50-day SMA. The variation will continue if the 50-day SMA support holds.
The current $6.20 support level may be retested if the price breaks below the moving average lines. Meanwhile, the crypto signal fluctuates as the altcoin returns to its original range.
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