Polkadot Declines by Breaking and Retesting $5.00

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

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot (DOT) price resumes selling pressure by breaking and retesting $5.00. DOT/USD surged to a high of $5.80 in the previous market action, but buyers were unable to maintain the bullish momentum above the recent high.

DOT/USD is now trading below the 21-day simple moving average but above the 50-day simple moving average. The current fall is anticipated to continue until it reaches a low above the 50-day SMA. This means that the market will continue to fall to a low of $4.40.

If the DOT price falls and remains above the 50-day SMA, the sideways trend may resume. At the time of writing, the altcoin is worth $5.01.

Daily Chart Indicators Reading:
DOT price has retraced between the moving average lines, implying that the cryptocurrency will continue to move sideways. The price bars on the 4-hour chart are below the moving average lines, indicating that the cryptocurrency will continue to fall.

When the altcoin breaks above the moving average lines, it will restart its upward trend.


General Outlook for Polkadot (DOT)
Polkadot is currently trading in the area between the moving average lines by breaking and retesting $5.00. The cryptocurrency’s price will range between $4.40 and $5.00. When the altcoin breaks above the 21-day SMA or the $5.00 resistance, it will resume its bullish trend.

However, selling pressure will reach the price levels of $4.40 or $4.20.

You can purchase crypto coins here. Buy LBLOCK

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing