Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36
Polkadot (DOT) Price Long-term Trend: Bullish
Today, Polkadot’s (DOT) price is trading above the moving averages. Buyers pushed the altcoin to the high of $45.76 but were resisted at the recent high. The cryptocurrency fell to the support above the 21-day SMA. Simultaneously, the altcoin has resumed upward above the current support. Polkadot will resume upward if the 21-day SMA or the $38 support holds. The altcoin will decline if the current support is breached.
Daily Chart Indicators Reading:
Polkadot is at level 55 of the Relative Strength Index period 14. The altcoin trades in the bullish trend zone, therefore there is a possibility of a further upward movement of the coin. The 21-day and 50-day SMAs are still sloping upward indicating the uptrend. Presently, the market is below the 80% range of the daily stochastic.
Polkadot (DOT) Medium-term Trend: Bullish
On the 3- hour chart, the altcoin is resuming a fresh uptrend. The uptrend is being restricted by the 21-day SMA and the 50-day SMA. The uptrend will continue when price breaks above the moving averages. Meanwhile, on October 28 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT price will rise to level 1.618 Fibonacci extensions or $45.02.
3-hour Chart Indicators Reading
DOT is below the 80% range of the daily stochastic. The market is in a bearish momentum. 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 still above the moving averages. There is a likelihood of an upward movement of the cryptocurrency. DOT price will have an accelerated movement if price breaks above the moving averages.
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