Polkadot Is in a New Range after Hitting a $3.91 Low

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

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot (DOT) price has plummeted to the bottom of the chart after hitting a $3.91 low . The crypto asset crashed to a low of $3.91 to build up a new range. The price of the altcoin has ranged from $3.91 to $4.20 since September 11th.

After being rejected at the highest point, the DOT price fell to a low of $4.04. DOT/USD is heavily oversold following a price drop to a low of $3.91. Meanwhile, after a price collapse on August 17, the DOT price corrected upward and a candle body tested the 78.6% Fibonacci retracement level.

Polkadot is expected to fall but then reverse at the 1.272 Fibonacci Extension, or $3.83. The altcoin has currently corrected upward after reaching a low of $3.91.

Daily Chart Indicators Reading:
Polkadot is correcting upward as it approaches the Relative Strength Index level 36 for period 14. The altcoin has already entered the market’s oversold zone. It is currently in a bearish trend below the daily Stochastic threshold of 25.

General Outlook for Polkadot (DOT)
The crypto asset is in a new price range between $3.91 and $4.20 after hitting a $3.91 low . Despite retreating, the altcoin is still above the $4.00 support level. The downward trend has reached its peak. The $4.00 support level may be breached by the cryptocurrency.

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