Polkadot Initiates a New Ascent as It Revisits Its Prior High of $9.60

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

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price has launched a new rise as it revisits its prior high of $9.60. On the upside, the price indicator predicts that the altcoin will advance to the 2.0 Fibonacci extension level, which is $8.50. Based on the price activity, purchasers attempted to push the coin above $8.00 but were unsuccessful.

Today, the cryptocurrency price is rising in an attempt to retest and surpass the recent high. If buyers break through the $8.00 barrier, the cryptocurrency will rise to highs of $8.50 and $9.40. Nonetheless, Polkadot will be limited to trading above the moving average lines and the $8.00 resistance level if buyers fail to break the previous high.

Daily Chart Indicators Reading:
The price bars remain above the moving average lines as the altcoin approaches the projected price level. The altcoin faces resistance at $8.00. The moving average lines are sloping upward in light of the recent market bounce.

General Outlook for Polkadot (DOT)
Polkadot is in a new uptrend on the 4-hour chart as it revisits its prior high of $9.60. The altcoin was repelled at the $8.00 resistance zone during the initial approach. The upward movement is further limited by resistance at $7.80.

Buyers face a difficult time pushing the coin above the $7.80 and $8.00 resistance levels. Meanwhile, the crypto signal remains strong as the altcoin’s price continues to grow.

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