Key Resistance Levels: $60, $62, $64
Key Support Levels: $40, $38,$36
Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot’s (DOT) price is in an upward move as bulls eye the resistance at $23. Presently, the bulls have broken above the $19 and $20 resistance levels. The altcoin is fluctuating at the recent high for a possible upward move to retest or break the resistance at $23. Polkadot will further rise to the upside if the resistance at $23 is breached. A break above the $23 high will propel the altcoin to the high of $27. Conversely, if buyers fail to break the recent high, DOT/USD will decline above the moving averages. In other words, the altcoin will be compelled to a range-bound move between $18.50 and $23 price levels.
Daily Chart Indicators Reading:
Polkadot is at level 63 of the Relative Strength Index for period 14. The coin is in the bullish trend zone and above the centerline 50. Further upward move is likely. The crypto’s price is above the moving averages which ensure further upward move.
Polkadot (DOT) Medium-term Trend: Bullish
On the 4- hour chart, Polkadot is in an upward move as the market reaches the uptrend zone. Meanwhile, on March 24 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that DOT will rise to level 1.618 Fibonacci extension or level $22.16.
4-hour Chart Indicators Reading
The altcoin is below the 80% range of the daily stochastic. DOT price has reached the overbought region of the market. The 50-day line SMA and the 21-day line SMA are sloping upward indicating the uptrend.
General Outlook for Polkadot (DOT)
DOT/USD is now in an uptrend zone as bulls eye the resistance at $23. The altcoin has the opportunity of further upward move above the moving averages. The current uptrend is ongoing if the bulls sustain the bullish momentum above the moving averages.
You can purchase crypto coins here: Buy LBlock
Note: Learn2Trade.com 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
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
