Polkadot Is In a Range above Its $1.20 Bottom Price

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price is consolidating above its $1.20 bottom price, having reached a low of $1.10. The cryptocurrency price is trading above the $1.20 support level but below the moving averages. The price movement has remained stationary for the past 48 hours due to the formation of Doji candlesticks. The upward movement has been limited by the $1.40 barrier.

Today, the cryptocurrency price is consolidating above the $1.20 support. On the downside, if the bears break below the $1.20 support, the DOT price would fall to $1.10 and $1.00. Meanwhile, Polkadot remains at the bottom of its chart. The DOT price is currently about $1.28.

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

Polkadot Indicator Analysis

The cryptocurrency price is represented by Doji candlesticks that consolidate below the downward-sloping moving average lines. The DOT price has entered the oversold territory of the market. The price bars are below the 21-day SMA barrier, as bulls and bears compete for price control at the recent high on the 4-hour chart.

General Outlook for Polkadot (DOT)

Polkadot is falling below the moving average lines, but it is trading above its $1.20 bottom price. The altcoin’s price has remained stable above the $1.20 support as it consolidates. On the 4-hour chart, the altcoin is trading sideways above the $1.20 support but below the moving average lines. The cryptocurrency price is prone to either breaking down or rising above the current support because it trades in a narrow range.

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