Polkadot Holds Above $18 Support, Poises to Revisit the $19 High

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


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

Polkadot (DOT) Price Long-term Trend: Bullish
Today, Polkadot’s (DOT) price has broken above the moving averages as it poises to revisit the $19 high . Buyers failed to keep the price above the moving averages as sellers sold at each rally. Today, DOT price is falling and may fall below the moving averages. However, if the cryptocurrency holds above the moving averages, there is a tendency for the altcoin to retest the $19 resistance. A break above the recent high will push the crypto to the highs of $22 and $27 price levels. Conversely, if the bears break below the moving averages, the downward correction will resume as the altcoin revisits the previous low at $16.

Polkadot Holds $18 Support, Poises to Revisit the $19 High
DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The crypto is at level 51 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. However, the altcoin risks further decline if price breaks below the downward correction. The crypto’s price bars are above the moving averages for a possible upward

Polkadot (DOT) Medium-term Trend: Bearish
On the 4- hour chart, Polkadot is in an uptrend. The altcoin is retracing after a recent rejection. Meanwhile, on March 17 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that DOT will rise to level 1.618 Fibonacci extension or level $20.69.

Polkadot Holds $18 Support, Poises to Revisit the $19 High
DOT/USD – 4 hour Chart

4-hour Chart Indicators Reading
DOT price is above the 40% range of the daily stochastic. The market has resumed bullish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
DOT/USD is still struggling to remain above the moving averages as it poises to revisit the $19 high. The current retracement has reached the oversold region. Buyers are likely to push the altcoin upward.

You can purchase crypto coins here: Buy LBlock



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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

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.

Leave a Reply

Your email address will not be published. Required fields are marked *