Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot’s (DOT) price is rising after hitting a low of $2.35, but is stuck at $3.60. The crypto price broke above the 21-day SMA barrier but became stuck at the 50-day SMA. The cryptocurrency is now trading above the 21-day SMA support but below the 50-day SMA barrier. In other words, the DOT price is above the $2.90 support but lower than the $3.60 resistance level.
Price movement has remained stationary between the moving average lines as Doji candlesticks form. On the upside, if buyers maintain the price above the 50-day SMA, the DOT price will rise to a high of $4.43. However, if the cryptocurrency price retraces and breaks below the 21-day SMA support, the altcoin would fall to a low of $2.78. Today, the DOT is still selling at $3.26.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
The moving average lines remain on a downward trend, but the price bars have broken above them. The price broke above the moving average lines but fell below the 50-day SMA barrier. On the 4-hour chart, the price bars are above the upward-sloping moving average lines, indicating the cryptocurrency’s growth.
General Outlook for Polkadot (DOT)
Polkadot resumes its bullish trend by breaching above the moving average lines, but is stuck at $3.60. The cryptocurrency price surged to $3.52 before returning above the moving average lines. On the 4-hour chart, the DOT price is trading above the moving average lines but below the $3.40 peak. Buyers hold the cryptocurrency price above the moving average lines, indicating a positive trend.
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