Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36
Polkadot (DOT) Price Long-term Trend: Bullish
Today, Polkadot’s (DOT) price has risen to the high of $42. The current uptrend is facing resistance at the $44 resistance zone. Yesterday, the market declined to $40 support. The $40 support is holding with the appearance of bullish candlesticks. DOT price will resume a fresh uptrend if the current support holds DOT/USD will resume an upward move if the current resistance is breached. The market will attain a new high of $50.
Daily Chart Indicators Reading:
Polkadot is at level 64 of the Relative Strength Index period 14. It indicates that the current bullish momentum is reaching the overbought region of the market. DOT price will be overbought at level 70 of the daily RSI. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.
Polkadot (DOT) Medium-term Trend: Bullish
On the 4 hour chart, the altcoin has resumed an upward move after rebounding above the $36 support. The current uptrend reached the high of $42.42 but was repelled. Meanwhile, on October 13 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that DOT will rise to level 2.0 Fibonacci extensions or $50.59 .
4-hour Chart Indicators Reading
DOT is below the 80% range of the daily stochastic. However, the stochastic bands are sloping upward indicating an upward move. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.
General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price is in an upward move. The altcoin is trading in the bullish trend zone. There is the possibility of a further upward movement of the crypto. A break above the $44 resistance will catapult the coin to $50 high.
You can purchase crypto coins here: Buy Coins
Note: Learn2Trade.com 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 results
- Broker
- Min Deposit
- Score
- Visit Broker
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
