Polkadot (DOT) Is in a Sideways Trend, Fluctuates Between $36 and $38


Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Ranging
DOT price is presently stuck below $38 for the past two days. The coin is now fluctuating between $36 and $38. Buyers were able to push the crypto to the high of $40 but could not sustain the uptrend. The price was repelled after reaching the overbought region. Presently, the price is falling toward the lower price range. If it breaks below $36 support; it will further decline to $34 low. However, if the $36 support holds, the crypto will continue its range bound movement between $36 and $38.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating upward. However, the market is presently in a sideways move. DOT is at level 60 of the Relative Strength Index period 14. This indicates that the pair is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bearish
On the 4-hour chart, the pair rose to $40 high but was resisted. DOT fell to a $36 low and resumed a sideways trend. On March 11 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT will fall to level 1.272 Fibonacci extension or the low of $34.95 and reverse.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is currently below the 40% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) is presently consolidating between $36 and $38. According to the Fibonacci tool, the market will further decline to 1.272 Fibonacci extension or the low of $34.95. Thereafter, the cryptocurrency may resume upward.

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
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.