Polkadot May Decline as It Faces Rejection at the $7.57

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Technical indicators:
Major Resistance Levels – $10, $12, $14
Major Support Levels – $8, $6, $4

DOT/USD Long-term Trend: Bearish
Polkadot’s (DOT) price is in a downtrend as it faces rejection at the $7.57 high. The upward correction is facing rejection at the 21-day line SMA or the $8.00 resistance zone. On the upside, if buyers breach the resistance at $8.00, Polkadot will rise and revisit the $9.68 overhead resistance. Conversely, if the altcoin loses the $6.80 support, the selling pressure will resume. Polkadot will further decline to the previous lows at $6.52 and $5.98 price levels. In the meantime, Polkadot is struggling to break above-moving average lines.

Polkadot May Decline as It Faces Rejection at the $7.57
DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The altcoin is at level 47 of the Relative Strength Index for period 14. DOT price is in a downtrend despite the upward correction. The price bars are still fluctuating below the moving average lines which will lead to further decline.

DOT/USD Medium-term bias: Bearish
On a weekly chart, the DOT price has fallen significantly to the downside. Today, the market is declining again after facing rejection at the 21-day line SMA. On a weekly chart, a retraced candle body tested the 78.6% Fibonacci retrenchment. The retracement suggests that DOT/USD will fall to level 1.272 Fibonacci extension or level $3.14. From the price action, the DOT price has fallen to the low of $7.47.

Polkadot May Decline as It Faces Rejection at the $7.57
DOT/USD – Weeky Chart

Weekly Chart Indicators Reading
DOT price is below the 40% range of the daily stochastic. The market is in a bearish momentum. The 21-day line and 50-day line moving averages are sloping southward indicating the downtrend.

General Outlook for Polkadot
Polkadot is in a downward correction a it faces rejection at the $7.57 The upward moves are facing rejection at the recent high.

You can purchase crypto coins here: Buy LBLOCK

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *