Polkadot Fluctuates Beneath the $4.70 Threshold

Polkadot (DOT) Price Long-term Trend: Bullish

The price of Polkadot (DOT) returns to its positive trend but fluctuates beneath the $4.70 threshold. The cryptocurrency asset was previously capped at the $4.37 high on the April 25 rise. After breaking the current barrier, the price of DOT increased to a high of $4.70. The altcoin is currently fluctuating at the most recent high, and the bullish impetus has paused. 

If buyers break through the resistance at $4.70, Polkadot will rise to the high of $5.00. However, if the price of DOT falls below the $4.40 support, it will decrease. It will return to its previous range above the moving average lines. Polkdot peaked at $4.76 on March 27 and was rebuffed. The altcoin hit a low of $3.25 after plunging beneath the moving average lines. The cryptocurrency asset is currently trading at $4.65.

Technical indicators:  

Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1

Polkadot Indicator Analysis 

The present bullish trend is indicated by the upward-sloping moving average lines that were previously downward-sloping. The moving average lines exhibit a bullish crossover on both charts. In other words, the bullish signal is indicated by the 21-day SMA being above the 50-day SMA. The altcoin will continue to rise as long as it stays above the moving average lines.

General Outlook for Polkadot (DOT)

Polkadot continues to trade in a bullish manner but fluctuates beneath the $4.70 threshold. The bullish trend was confirmed when the altcoin retraced and retested the moving average lines. The altcoin bounced back and reached its prior peak. Polkadot surged above $4.70 on the 4-hour chart before reversing course. Following a little retreat at the most recent peak, the price of cryptocurrencies is currently oscillating.

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