Polkadot Is in an Overbought Area as It Struggles below the $7.00 High

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RESULTS

Key Resistance Levels: $10, $12, $14
Key Support Levels: $8, $6,$4

Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot (DOT) price has risen further as it struggles below the $7.00 high. The value of the crypto asset is increasing and will soon reach the previous highs of $7.00 and $7.60. The altcoin is now trading at $6.91 as of this writing. The 50% Fibonacci retracement level was tested by the price signal with a candle body during the upswing on March 14. DOT will rise to level 2.0 of the Fibonacci extension, or $7.78. According to the price movement, the market has had a modest retracement and achieved a high of $6.91.

Daily Chart Indicators Reading:
Polkadot is moving upward at Relative Strength Index level 60 for period 14. The coin’s upward momentum will continue as long as it is above the moving average lines. Since the price bars are above the moving average lines, the value of the cryptocurrency is increasing.

Polkadot (DOT) Medium-term Trend: Bullish
Polkadot is increasing on the 4-hour chart as it records higher highs and higher lows. Every time there is an uptick, the price of the cryptocurrency retraces over the lines of the moving averages. If the price breaks below the moving average lines, the uptrend can come to an end. The coin is currently being rejected at the $7.00 resistance level.

4-hour chart Chart Indicators Reading
The overbought area of the market where the coin is trading prevents price growth. It is above the daily Stochastic level of 80. If sellers show up in the overbought area of the market, the altcoin will fall.


General Outlook for Polkadot (DOT)
Polkadot is now in a bullish trend zone as it struggles below the $7.00 high. The upward advance has reached bullish exhaustion as the coin gets closer to the overbought region. The DOT price has reached an overbought level of $7.00. Currently, the altcoin is having difficulty advancing to its $7.00 high.

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