Polkadot May Face Another Fall as It Challenges the $4.80 High

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

Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot (DOT) has maintained its upward trend, remaining above the $4.40 support level as it challenges the $4.80 high. The rise has been halted twice above the $4.80 resistance. If the current positive momentum continues, the current uptrend is anticipated to hit a high of $5.00.

Polkadot faces a drop if it fails to rise beyond its previous high. The altcoin fell to a low of $3.56 in the previous rejection as bulls purchased the dips. The cryptocurrency has risen above the moving average lines.

On the downside, if the latest high is rejected, the altcoin will fall above the $4.20 support. DOT/USD is currently trading at $4.78 at the time of writing.

Daily Chart Indicators Reading:
The price bars are above the moving average lines as they reach higher highs and lower lows. The moving average lines in the lower period are pointing northward, indicating an uptrend. The 21-day SMA serves as the price bars’ resistance bar.

General Outlook for Polkadot (DOT)
Polkadot is about to rise to new highs as it challenges the $4.80 high.
The breaching of the resistance level will indicate the start of the rising momentum again. The price rebound was considerable on November 1st, but it has yet to break through the barrier at the previous high.

The altcoin may start a sideways trend above the moving average lines if it faces rejection at the recent high.

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