Polkadot Remains Stable Above $3.00

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price remains stable above $3.00, having dropped to $3.02 earlier. As the altcoin recovers above the $3.00 support, it has eclipsed the previous lowest price level. The altcoin is bouncing below the moving average lines but above the $3.00 support.

Polkadot will reach its peak of $6.00 if buyers break through the moving average lines. However, the bearish momentum will continue to the low of $2.75 if the bears breach below the current support at $3.00. The current value of DOT is $3.35. 

Technical indicators:  

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

Polkadot Indicator Analysis 

The price bars are below the moving average lines and are forming a string of lower highs and lows. A bearish indicator is suggested by a bearish crossover between the downward-sloping moving average lines. The market has entered the oversold phase since buyers should show up to push prices higher.

General Outlook for Polkadot (DOT)

Polkadot remains stable above $3.00 and is currently in a range-bound move. The price of the cryptocurrency sits between the $3.00 support and the $3.50 high. The upward trend on the 4-hour chart is halted at the moving average lines or the $3.50 barrier. As the market stays stagnant, the price bars are consolidating at the most recent high. The price bars are stabilizing at the most recent high while the market remains flat.      

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