Polkadot Pauses Above $8.00 As It Continues To Recover

Polkadot (DOT) Price Long-term Trend: Bullish

Polkadot’s (DOT) price breaks through the barriers of $5 and $5.80 as it continues to recover. The positive momentum peaked at $10.41 before declining. The crypto asset is recovering from its downturn after breaking through the current obstacles. Buyers hope to push the altcoin to its previous high of $12.

In the preceding market action, DOT’s price reached a high of $11.85 on March 11 before falling sharply. The bearish momentum continued to a low of $3.66, as bulls bought the dips. Today, the bullish trend has begun, reaching a high of $9.05. On the upside, if buyers maintain their bullish momentum above $9.00, the altcoin will reach its prior high of $12.

Technical indicators:  

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

Polkadot Indicator Analysis 

The horizontal moving average lines are trending upward, indicating a bullish crossover. The 21-day SMA is higher than the 50-day SMA, indicating an increase in the crypto asset. The small-body uncertain candlesticks have decreased as the altcoin has resumed a bullish trend. On November 24, there is a lengthy candlestick pointing towards the resistance zone, signaling significant selling pressure.

General Outlook for Polkadot (DOT)

Polkadot is in an uptrend on the 4-hour chart as it continues to recover. The upward movement has paused at the $10 barrier but is still hovering above the $8.00 support. Since November 24, the altcoin’s price has been in the $8 to $10 area. When the $10 barrier level is breached, the upward trend will resume. The cryptocurrency’s signal is positive as the altcoin maintains its bullish trend.

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