Polkadot Remains in a Range as It Slides Below $9.20

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price is below the moving average lines as it slides below $9.20. According to the price signal, selling pressure will remain on the negative. The DOT price is constrained to the moving average. For the past week, both bulls and bears have failed to break through the moving average lines.

If the bears breach the 50-day SMA, the altcoin will fall to the downside. Polkadot will revisit its previous lows of $7.40 and $7.00. Meanwhile, DOT/USD is currently valued at $9.09.

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

Daily Chart Indicators Reading:
Polkadot has been caught between the moving average lines. For the previous week, the cryptocurrency price has moved between the moving average lines. The price bars have crossed the 50-da SMA as bears continue to push lower. The current downturn has caused the price bars on the 4-hour chart to go below the moving average lines.

General Outlook for Polkadot (DOT)
On the 4-hour chart, Polkadot has fallen below the moving average lines as it slides below $9.20. The price indicator for the cryptocurrency has revealed a further fall. On the March 17 decline, the DOT price corrected upward, with a candle body testing the 61.8% Fibonacci retracement level.

The correction indicates that Polkadot will fall further to the low of the 1.618 Fibonacci extension, or $7.62. In other words, the crypto signal will be negative as the altcoin falls.

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