Polkadot Rebounds but Continues to Fluctuate Above $7.10

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

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
Checkmark

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

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

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

Checkmark

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

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

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

Checkmark

Monthly subscriptions begin at £58.


Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price rises above the 21-day SMA as it continues to fluctuate above $7.10. The altcoin has been trading in a range between the moving average lines and the $6.20 support. The 21-day SMA has not been broken since the April 13 price drop.

On May 3, the bulls broke through the 21-day SMA resistance level, setting the stage for a further higher rise. On the upside, the altcoin is predicted to reach the top of the 50-day SMA, or $8.00. Nonetheless, the cryptocurrency’s price reaches an early high of $7.41.

DOT price retraced above the 21-day SMA support and resumed its upward trend. If buyers sustain the price above the 50-day simple moving average, the altcoin will rise to its former level of $11.85. The DOT/USD exchange rate is currently $7.10.    

Polkadot Rebounds but Continues to Fluctuate Above $7.10
DOT/USD – Daily Chart

 Technical indicators:  
Key Resistance Levels: $10, $12,$14
Key Support Levels: $5, $3, $1                                                   
 
Daily Chart Indicators Reading:
Presently, Polkadot is trading above the 21-day SMA but below the 50-day SMA. The altcoin will be forced to oscillate in between the moving average lines. If the bear breaches the 21-day SMA support, the cryptocurrency will fall in value.

However, if the bulls breach the 50-day SMA, the coin will restart its bullish trend. DOT pricing will return to its earlier high of $11.85.

General Outlook for Polkadot (DOT)
Polkadot is between the moving average lines as it continues to fluctuate above $7.10. It means that the altcoin will be limited to its price movement for a few days. The cryptocurrency asset will trend whenever either the bulls or the bears break the moving average lines.

The crypto signal will remain range-bound while the altcoin fluctuates within its range.

Polkadot Rebounds but Continues to Fluctuate Above $7.10
DOT/USD – 4 hour Chart

 

You can purchase Lucky Block 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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

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 *