Polkadot Rebounds but Halts below $1.95

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price rises in the bearish trend zone but halts below $1.95. However, the bulls have bought the dips, pushing the price to the high of $1.83. The price movement is approaching the 21-day SMA barrier. On the upside, if the bulls breach the 21-day SMA barrier and the bullish momentum is sustained, the DOT price will regain its bullish trend. First, the DOT price will rally to the 50-day SMA barrier or the $2.28 high.

However, if the DOT price turns down from the 21-day SMA barrier,it will decline and be compelled to a range-bound move.In other words, the DOT price will be limited at $1.60 or lower than the 21-day simple moving average. In the meantime, the upward trend is continuing. Today DOT price is $1.83 at the time of writing.

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

Polkadot Indicator Analysis

The moving average lines have dropped significantly to the bottom of the chart, while the price bars below them have corrected higher. The altcoin will restart its bullish trend when buyers break above the 21-day SMA. On the 4-hour chart, the price bars have rebounded above the moving average lines, indicating that the cryptocurrency may be on its way up.

General Outlook for Polkadot (DOT)

Polkadot price resumes its bullish advance but halts below $1.95. On the 4-hour chart, the cryptocurrency price found support above $1.70 and reached a high of $1.83. On the upside, positive momentum is projected to meet resistance at $1.90. Meanwhile, the crypto signal remains bearish, with the altcoin trading in the bearish trend zone.

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