Polkadot Depreciates above Its $1.10 Low

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price depreciates above its $1.10 low toward the bottom of its chart. The bearish momentum has breached the bottom price of $3.00, reaching a low of $1.11. However, since February 2, the bearish momentum has stalled above the $1.10 support. The cryptocurrency price is currently trading above the $1.10 support level but below the moving average lines.

On the upside, the DOT price will begin to rise if buyers keep it above the moving average lines. This will cause it to rise to as high as $3.00 or $3.50. However, if it turns down from the moving average lines, the bearish trend will continue to the low of $1.10. On the downside, if the bears break below the $1.10 support, the altcoin will return to its October 10 price level of $0.25. The DOT price is $1.37 at the time of writing.

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

Polkadot Indicator Analysis

The 21-day SMA is below the 50-day SMA, and the moving average lines continue to fall to the bottom of the chart. On the 4-hour chart, the moving average lines are sloping downward, and the price bars are below the 21-day SMA resistance line. The DOT price is currently trading in the oversold territory of the market.

General Outlook for Polkadot (DOT)

Polkadot depreciates above its $1.10 low but recovers above the $1.20 support. The cryptocurrency price is trading in a confined range, above the $1.20 support and below the moving average lines. The 21-day SMA barrier, or resistance at $1.40, has resisted the upward trend. Meanwhile, the cryptocurrency signal will be negative if the price remains below the moving average lines.

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