Polkadot (DOT) Price Long-term Trend: Ranging
Polkadot’s (DOT) price is falling but remains above its bottom price of $2.80. The crypto asset has been trading sideways above the $2.80 support and below the $3.40 resistance since October 11. Neither bulls nor bears have broken through the range-bound levels. Today, the DOT price is falling towards the $2.80 support. On the downside, the altcoin’s sideways movement will continue if it retraces and remains above the $2.80 support.
Further decrease in the crypto asset is unlikely, as the altcoin trades above its low price of $2.80. On the upside, a break above the 21-day SMA will imply the continuation of the bullish trend. DOT prices will rise and return to earlier highs of $3.70 and $4.43. The altcoin is now worth $2.86 as of this writing.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
Today, the DOT price is decreasing due to rejection at the 21-day SMA barrier. The 21-day SMA and 50-day SMA are continuing to trend downward. The 21-day SMA serves as a resistance line for price bars. On the 4-hour chart, the moving average lines are horizontal, indicating a sideways trend.
General Outlook for Polkadot (DOT)
Polkadot is still trading above its bottom price of $2.80. Today, the cryptocurrency price is decreasing and approaching the existing level of $2.80. Price movement has slowed due to the presence of Doji candlesticks. The crypto signal is range-bound, with the altcoin holding above the $2.80 support..
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