Polkadot Reaches Its Low at $3.30 and Steadily Rises

Polkadot (DOT) Price Long-term Trend: Bearish

The price of Polkadot (DOT) is now above the bottom pricing point and steadily rises. The DOT price fell to its lowest point of $3.30 on April 7. During the most recent market action, Polkdot moved above the $3.80 support but below the moving average lines and the $4.80 resistance.The decline was caused by the bulls’ inability to establish a bullish trend above the moving average lines.

The bears have broken both the moving average lines and the present support in order to reach the low of $3.30. Polkadot is now at the bottom of the chart The oversold area of the market has been reached. The DOT price as of this writing is $3.41.

Technical indicators:  

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

Polkadot Indicator Analysis 

The moving average lines on the daily chart have a southward slope. On the weekly chart, however, the moving average lines are horizontal. The price bars on both charts show the present downward trend because they are below the moving average lines. The presence of Doji candlesticks is causing the price of DOT to move slowly. 

General Outlook for Polkadot (DOT)

Polkadot drops to a $3.30 low and steadily rises. On the downside, the DOT price will move above the $3.30 but below the $4.00 high if the $3.30 support holds. The altcoin is now in the market’s oversold area. On the downside, buyers will emerge to push prices upward.

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