Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot’s (DOT) price has continued its bullish ascent above $4.70.
DOT price rose to a high of $5.38 but was rebuffed at the latest high. The price has been bouncing between the resistance level at $5.40 and the breakthrough level of $4.70 since May 10. If buyers break above the resistance at $5.40, the cryptocurrency asset will continue to rise to $6.50.
If the DOT price loses the current support at $4.70, it will drop below the moving average lines to a low of $4.00. In the meantime, the drop has stopped above the $4.70 support level.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
Following the latest breakout, the price bars have retraced above the moving average lines. The 21-day SMA support is just above the cryptocurrency price. On the 4-hour chart, the upward-sloping moving average lines are currently moving sideways. The price bars are above the $4.70 support and below the moving average lines.
General Outlook for Polkadot (DOT)
Polkadot is trading in the bullish trend zone after regaining its bullish ascent above $4.70. Following the halt of the upward trend on May 10, the altcoin is trading in a range. The resistance at $5.40 is impeding the upward movements. Similarly, below the $4.70 support, the declines are halted. If the current $4.70 support holds, the cryptocurrency signal will remain bullish.
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