Polkadot (DOT) Is in a Fresh Uptrend, Faces Rejection at $26.50
Login

Polkadot (DOT) Is in a Fresh Uptrend, Faces Rejection at $26.50

Estimated Reading Time: 3 minutes

Azeez Mustapha

Updated:

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 regained bullish momentum as the crypto reach the high of $25.95. In the previous price action, Polkadot declined to the low of $23.47. For the past week, the altcoin has been in a downward move. Nevertheless, the selling pressure has subsided as bulls defended the $24 support. Buyers are attempting to push the DOT price to the previous high of $29.35. However, the bulls are likely to face rejection at the $27 high.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
DOT price is at level 60 of the Relative Strength Index period 14. The altcoin is in the bullish trend zone and above the centerline 50. The DOT price is above the 50% range of the daily stochastic. It indicates that the market has resumed bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the trend.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, Polkadot has resumed upward move. DOT price has broken above the 21-day SMA as the market resumes upward. Meanwhile, on the August 22 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that DOT will fall to level 2.618 Fibonacci extension or level $22.22. From the price action, the market has reversed above $24 support.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Polkadot is above the 50% range of the daily stochastic. The crypto is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
DOT/USD has resumed upward move. The crypto is likely to revisit the previous high. The upward move is facing resistance at the $28.50 high. On August 25, DOT was repelled as it fell to $24 low. Today, the altcoin is facing the same resistance level.


You can purchase crypto coins here. Buy Tokens

Note: Learn2Trade 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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News