Polkadot (DOT) Price Long-term Trend: Bearish
The price of Polkadot (DOT) is between the moving average lines and in a range above $4.40. Nonetheless, the cryptocurrency price is currently trading below the 21-day SMA barrier and above the 50-day SMA support. Although the DOT price fluctuates between the moving average lines, it is consolidating above the $4.40 support.
If Polkadot breaks above the 50-day SMA support, it is likely to continue to decline. There is little chance of an upward move above the 21-day SMA level. The bears will return to the previous low above $4.00 if they break below the 50-day SMA support. At this time, the altcoin’s worth is $4.50.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
The prior uptrend is indicated by the increasing slope of the 50-day and 21-day SMAs. But the price bars are stuck between the lines of the moving average. When the 50-day SMA support is broken, the price of DOT will decline. The altcoin will rise above the 21-day SMA barrier and resume its bullish trend.
General Outlook for Polkadot (DOT)
Polkadot’s price falls below the 21-day SMA support and in a range above $4.40. The altcoin is now trading in a close range above the $4.40 support and below the $4.80 barrier on the 4-hour chart. The bears have repeatedly tried to break through the $4.40 support by retesting it. The DOT price is anticipated to drop to $4.00.
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