Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price has completed its negative trend and returned to a sideways pattern due to traders’ indecision. For the past month, bulls have held the drop above the $4.00 support. The altcoin trades above the $4.00 support but below the moving average lines or the $5.00 resistance level. Buyers have failed twice to keep the price above the moving averages.
This has caused the altcoin to decline and trade below the moving average lines but above the $4.00 support. On September 6, the crypto’s price fell below the existing support but retreated. Today, the altcoin is soaring above its present support. The altcoin will restart its positive trend if buyers retain the price above the moving average lines and the bullish momentum continues. Today, the DOT price is $4.19.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
Since September 1, the price bars have consolidated above the $4.00 support while remaining below the moving average lines. The negative trend has reversed above the $4.00 support. The creation of Doji candlesticks slowed the upward movement.
General Outlook for Polkadot (DOT)
Polkadot is steadily moving above its current support of $4.00 due to traders’ indecision. Since August 5, the altcoin has been between the $4.00 support and the $5.00 resistance. The price movement has been motionless due to traders’ ambivalence over the market’s direction. Meanwhile, the crypto signal remains range-bound as the altcoin consolidates above its present support.
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