Polkadot Is Range-Bound above $2.50

Polkadot (DOT) Price Long-term Trend: Ranging

Polkadot’s (DOT) price is range-bound above $2.50 after the October 10 downturn. The cryptocurrency is now trading in a range above the $2.50 support and below the $3.50 resistance level. The dominance of Doji candlesticks has kept price movement inside a narrow band. Following the October 10 rally, the bulls are defending the $2.50 support level.

Buyers lifted the DOT price three times above the moving average lines, but were halted by the 50-day SMA barrier and resistance at $3.50. If the barrier is overcome, the DOT price will reach a high of $4.43. However, neither the bulls nor the bears have broken the range-bound levels. Today, the DOT price is decreasing, reaching a low of $2.84.

Technical indicators:  

Key Resistance Levels: $10, $12, $14

Key Support Levels: $5, $3, $1

Polkadot Indicator Analysis

The 21-day and 50-day SMAs are horizontal due to a pause in the drop on November 4. The price bars are distinguished by Doji candlesticks, which dictate the price movements. On the 4-hour chart, the moving average lines are sloping downward, and the price bars are below the 21-day SMA. The 21-day SMA barrier causes the DOT price to decline.

General Outlook for Polkadot (DOT)

Polkadot is range-bound above $2.50 on the 4-hour chart. Currently, the cryptocurrency is sliding after being rejected at the 21-day SMA. The DOT price remains range-bound at the bottom of the chart. The crypto signal is negative since the moving average lines reject it.

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