Polkadot Dips and Finds Support above $3.80

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price falls to the bottom of the chart but finds support above $3.80. Since September 7, the altcoin has been trading in a positive trend zone. The cryptocurrency corrected upward and reached a high of $4.87. Buyers were unable to maintain the positive momentum above the $5.00 high. In other words, the crypto asset has been trading in a range above the moving average lines but below the $4.80 resistance level.

Today, the DOT price has fallen to the $3.80 support level. The altcoin is currently trading in a bearish trend zone between the $3.80 support and the moving average lines. If the bears break below the $3.80 support, the crypto asset will continue to drop. The DOT price will fall further to lows of $3.62 and $3.43. DOT is now worth $3.98 at the time of writing.

Technical indicators:

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

Polkadot Indicator Analysis

There are extended candlestick wicks that point across the $4.80 resistance zone. It implies heavy selling pressure at $4.80. The price bars have dropped below the horizontal moving average lines. On the 4-hour chart, the 21-day SMA is lower than the 50-day SMA support, indicating a fall. The price activity is represented by Doji candlesticks.

General Outlook for Polkadot (DOT)

Polkadot has moved into a bearish trend zone but finds support above $3.80. The altcoin is trading in a tight range between the $3.90 support level and the moving average lines. The cryptocurrency price is dropping toward the current support level, and a breach below it will send DOT to a low of $3.00. Meanwhile, the crypto signal range is limited as the altcoin trades toward the bottom of the chart.

Make money without lifting your fingers: Start using a world-class auto trading solution.

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