Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36
Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot (DOT) has fallen to the previous low above $13. For the past four days, the DOT price has been stable and it fluctuates above the $13 support level. Nevertheless, the altcoin is presumed to be trading in the oversold region of the market. The emergence of buyers is expected in the oversold region. Further selling pressure is unlikely on the downside. On the upside, if the current support holds, the altcoin will resume an upward move to the previous highs. DOT price will retest the $26 resistance which has strong selling pressure. A break above the resistance will catapult the coin to $48 high.
Daily Chart Indicators Reading:
Polkadot has fallen to level 35 of the Relative Strength Index period 14. It indicates that crypto is approaching the oversold region of the market. The 21-day and the 50-day SMA are sloping southward indicating the downtrend.
Polkadot (DOT) Medium-term Trend: Bearish
On the 4 hour chart, the altcoin is falling. DOT price has fallen to the previous low twice. Meanwhile, on April 23 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.618 Fibonacci extension or level $13.70.
4-hour Chart Indicators Reading
DOT price has fallen below the 20% range of the daily stochastic. It indicates that price has fallen to the oversold region. Buyers are expected to take control of prices. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.
General Outlook for Polkadot (DOT)
Polkadot’s (DOT) price is fluctuating above the current support. DOT price has fallen to the oversold region as buyers are likely to emerge. Presently, the upward move is facing rejection at the $16.50 high.
.
You can purchase crypto coins here. Buy Tokens
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
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
