Key Resistance Levels: $10, $12,$14
Key Support Levels: $5, $3,$1
Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot (DOT) price has resumed their upward trend following a minor hiccup as they gains in value. The first upswing came to a halt after hitting a high of $7.68. It fell to a low of $6.24 as bulls bought dips. The altcoin is steadily gaining in value.
The price indicator indicates that the cryptocurrency asset will peak at $8.20. The first rally halted when the altcoin entered an overbought zone. Polkadot is rising as it tries to retest the $7.68 resistance level. A break above the resistance will indicate that the uptrend has resumed.
DOT/USD will be forced to trade in a range if buyers fail to break through the resistance level. If the bullish scenario fails, the altcoin will trade between $6.30 and $7.60.
Daily Chart Indicators Reading:
The price bars continued to remain above the moving average lines following the minor decline. This suggests that the cryptocurrency will continue to rise. The upswing has been depicted by the upward-sloping moving average lines. The upward trend stopped as the market approached overbought territory.
General Outlook for Polkadot (DOT)
Polkadot is continuing its upward trajectory as it gains in value. Since December 9, the altcoin’s price has ranged between $6.30 and $7.60 in expectation of a positive trend. The upward trend is anticipated to be met with resistance near the high of $7.10.
If the DOT price fails to breach the recent high, it will remain in its range.
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