Polkadot Holds Above $4.00 as It ContinuesIts Sideways Move

Polkadot (DOT) Price Long-term Trend: Ranging

Polkadot (DOT) is making an upward correction as it continues its sideways move. The crypto asset has resumed its sideways movement, breaking above the moving average lines. The market has remained in a price range of $4.00 to $5.00. Today, the cryptocurrency broke above the moving average lines and returned to retest it.

The rising advance starts when the cryptocurrency stays above the moving average lines. The DOT price will rise for the fourth time when it retests the $5.00 resistance level. On the downside, Polkadot has reached the market’s oversold level. The cryptocurrency has reversed above the critical support of $4.00. It is currently valued at $4.32 as of writing.

Technical indicators:  

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

Polkadot Indicator Analysis 

Following the current price bounce, the price bars have risen above the moving average lines. The current upward trend has paused near the $5.00 high. The cryptocurrency has retreated above the moving averages. The upward trend will resume once the altcoin remains above the moving average lines.

General Outlook for Polkadot (DOT)

Polkadot price is moving sideways above key support as it continues its sideways move. The upward movement has been hindered by resistance at $5.00. The price movement has been constrained by the Doji candlesticks. On October 15, there are lengthy candlestick tails pointing to the $5.00 barrier level. These candlestick tails imply heavy selling pressure at the peak of $5.00. The crypto signal is range-bound as the altcoin continues its range.

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