Key Resistance Levels: $10, $12, $14
Key Support Levels: $8, $6,$4
Polkadot (DOT) Price Long-term Trend: Bullish
The price of Polkadot (DOT) is rising within the bullish trend zone as it battles the resistance at $6.50. The $6.50 resistance level is the target price that buyers want to maintain. A third test of the $6.50 resistance level will now be conducted. After being rejected from the resistance zone twice, the DOT price will fall below the moving average lines. The value of the cryptocurrency asset is currently $6.41 below the resistance level. Polkadot will drop below the moving average lines on the downside if the current high is rejected. The DOT/USD currency pair is expected to decline and hit its $5.50 low again.
Daily Chart Indicators Reading:
Polkadot is at level 55 on the Relative Strength Index for period 14. The coin is still within the bullish trend zone and has room to rise even higher. The price bars are just above the moving average lines, pointing to a potential increase in price. At this time, Polkdot is trading under the daily Stochastic level of 80. The overbought area of the market has already been reached by the market.
Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the alternative currency is rising to retest the resistance at $6.50. Since March 14, the Bulls have attempted four times to break through the resistance zone without success. The coin is in a range-bound move as it reaches the overbought level.
4-hour chart Chart Indicators Reading
The market is overbought where the crypto asset is currently trading. It could fall because it is currently above the daily Stochastic level of 80. The moving average lines’ position above the price bars may cause altcoin prices to increase. Moving average lines have an upward slope.
General Outlook for Polkadot
Polkadot has been lagging behind the $6.50 high as it battles the resistance at $6.50. Buyers are still trying to keep the price above the $6.50 high. The bullish trend for the coin will resume if the price climbs above the most recent high.
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