Polkadot Recovers but Falls Short of the $4.50 Mark

Polkadot (DOT) Price Long-term Trend: Bullish

Polkadot’s (DOT) price has risen above the moving average lines but falls short of the $4.50 mark. The altcoin has been trading below the $4.40 barrier but above the moving average lines since April 24. Buyers have been attempting to raise the price above the $4.40 high for the past week. The bears have stopped the rally when the altcoin began a sideways move above the moving average lines. 

Polkadot fluctuates above the moving average lines as buyers attempt to keep the price above the $4.50 threshold. On the plus side, the altcoin will rise to $5.00 if purchasers are successful. On the other hand, if the altcoin fails to surpass the most recent high, it will keep moving above moving average lines. The altcoin will fall to the low of $3.52 if it breaches the moving average lines. The DOT price is $4.19 today.

Technical indicators:  

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

Polkadot Indicator Analysis 

Polkadot is trading in a favorable trend as the altcoin recovered above the moving average lines. The altcoin might reach its previous peak again if the 50-day SMA support holds. Likewise, it will drop if the 50-day Support is broken. The candlestick wicks exhibit strong selling pressure at the most recent peak.

General Outlook for Polkadot (DOT)

Polkadot is showing indications of revival as it rises above the moving average strings but falls short of the $4.50 mark. On the 4-hour chart, the altcoin trades below the $4.80 high but above the $4.00 support. The price of cryptocurrency is dropping after repeatedly encountering resistance.

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