Polkadot Hits Bearish Fatigue and Returns to the $4.00 Low

Technical indicators:  

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

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price breaks below the moving average lines as it returns to the $4.00 low. The negative trend tested the critical support at $4.00 before pulling back. This has been the pricing trend since August 5. The slump has ended, and the altcoin has reversed above the critical support of $4.00. On the upside, every upward price movement has been hampered by the $5.00 resistance level.

The bulls breached the $5.00 resistance three times but failed to maintain their bullish momentum above the recent high. If the $5.00 threshold is breached, the DOT price will rise to $6.50 or more. On the downside, additional cryptocurrency loss is improbable because the market has reached bearish exhaustion at the bottom of the chart. Polkadot is currently worth $4.15.

Polkadot Indicator Analysis 

Polkadot has dipped below the moving average lines as the market maintains its range-bound trend. The selling pressure has lessened, but the price bars remain below the moving average lines. The moving average lines have been horizontal since August 5, when the cryptocurrency resumed its sideways movement.

General Outlook for Polkadot (DOT)

Polkadot trades between the $4.00 support and the $5.10 resistance but returns to the $4.00 low. Neither the bulls nor bears have broken the present support and resistance levels. Bulls will buy the dips whenever the existing support is breached. On the other side, buyers have failed to sustain the price above the $5.00 resistance level. The crypto signal is in a range-bound move, having been pulled back after hitting present support. 

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