Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price falls below the moving average lines but remains above its $1.85 bottom price. Buyers lifted the price above the moving average lines, but it failed to break through the resistance levels of $2.20 and $2.40. Since January 19, the cryptocurrency price has been consolidating above the $1.85 support while remaining below the moving average lines.
The price of DOT is bouncing in a narrow range, and a price rebound will send the altcoin above the moving average lines. The altcoin will reach its previous high of $2.40. A price collapse will cause the altcoin to fall to its bottom of $1.67. The current DOT price is $1.91 at the time of writing.
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
The 21-day and 50-day moving average lines are horizontal. The price bars have dropped below the moving average lines after being rejected at the latest high. However, on the 4-hour chart, the moving average lines are sloping downward. The 21-day SMA barrier impedes the cryptocurrency’s upward price movement.
General Outlook for Polkadot (DOT)
Polkadot price is falling as it approaches its $1.85 bottom price. The altcoin’s price has stayed stable as it sits above the $1.85 support level. On the 4-hour chart, the altcoin is trading sideways above the $1.85 support but below the moving average lines. The price bars remain below the 21-day SMA level. The crypto signal is range-bound since the Doji candlestick appears within the specified range.
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