Polkadot Hits Crucial Support at $4.00 as Buyers Emerge

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RESULTS

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

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot (DOT) prices have passed the bottom price level as they hit crucial support at $4.00. On September 11, the altcoin fell to a low of $3.91. The coin has returned above $4.00 and has begun to consolidate above it. The crypto asset’s upward movement has been stifled by the resistance at $4.30, resulting in a drop below the current support.

The price range has been restricted between $4.00 and $4.30. According to the price behavior, the DOT/USD should have dropped and reversed at $4.00. The market is currently trading above the $4.00 support level.

Daily Chart Indicators Reading:
Polkadot has declined further, reaching level 24 of the Relative Strength Index for period 14. The current drop has pushed the altcoin into the market’s oversold zone. The current price fall has hit its bearish limit. The daily Stochastic has already signaled that the market is oversold.

Buyers are emerging to drive up prices. It is higher than the daily Stochastic level of 25.

General Outlook for Polkadot (DOT)
The cryptocurrency asset has entered the market’s oversold zone as it hits crucial support at $4.00 . Price signs point to a likely reversal above the $4.00 support level. Meanwhile, assuming the current support holds, the market will move between $4.00 and $4.30.

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