Polkadot (DOT) Rebounds above $26 Low, Targets $45 Price Level


Key Resistance Levels: $60, $62, $64
Key Support Levels: $40,$38,$36

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price has fallen to $26 low as the altcoin rebounds above the current support. The $26 support is the historical price level of September 28. In September, the altcoin rebounded above the current support to reach the previous highs. Today, the market has reached the oversold region. The downward movement prices are likely to subside. There are bullish candlesticks above the current support indicting a possible upward move of the altcoin. Meanwhile, DOT/USD is trading at $27.78 at the time of writing.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The cryptocurrency is at level 32 of the Relative Strength Index period 14. The market is rising but the altcoin is in the downtrend zone and below the centerline 50. The crypto’s price bars are below the moving averages which indicate a further downward move.

Polkadot (DOT) Medium-term Trend: Bearish
Polkadot is in a downward correction. The altcoin is making an upward move above the current support. Meanwhile, on November 28 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that DOT price will fall but reverse at level 1.272 Fibonacci extensions or $25.74.

DOT/USD – Daily Chart

Daily Chart Indicators Reading
The crypto is above the 25% area of the daily stochastic indicating a bullish momentum. The stochastic bands are sloping horizontally above the current support. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

General Outlook for Polkadot (DOT)
P0lkdot has resumed upward move. The altcoin has been hovering above the $26 support for some time. The market is likely to hold above the current support. The candlestick has indicated strong buying pressure above the current support

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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.