Polkadot Is Range-Bound as It Holds Above $4.00

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price has slipped below the 21-day SMA as it holds above $4.00. Since March 10, the altcoin has been in a range bound move above $3.80 and below the moving average lines or the resistance at $5.00. Polkadot has halted its decline and should have reversed above the $4.00 support, according to the price indicator. 

Polkadot has fallen below the moving average lines and is currently hovering above them. On the upside, buyers pushed the price above the moving average lines but were unable to maintain the bullish momentum above them. The altcoin will begin its bullish trend when the bulls keep their bullish momentum above the moving average lines. 

Technical indicators:  

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

Polkadot Indicator Analysis 

The altcoin has reached the oversold area of the market as it hovers above the $4.00 support, even though the DOT price bars are below the moving average lines. The market has been characterized by Doji candlesticks, which slow the price movement. The moving average lines are sloping southward on the daily chart, indicating a downtrend.   

General Outlook for Polkadot (DOT)

The altcoin holds above $4.00 but below the moving average lines on the daily chart. The upward moves are being rejected at the $3.80 high. The crypto signal is range-bound, with buyers anticipated to emerge in the oversold area of the market. Polkadot has started a sideways move after ending its decline above the $ 3.60 as support. 

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