Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot (DOT) has rebounded above the moving average lines, although it still trades above the $4.00 low. The altcoin was trading consistently above the $3.00 support but below the moving average lines before the price rebound. On July 8, buyers successfully drove the price above the moving average lines.
The altcoin surged to $4.67 before retreating. Polkadot has extended its descent towards the $4.20 level. The upward trend will resume if the existing support holds. If Polkadot breaks through the current barrier, it may rise to a high of $5.35. The altcoin is currently worth $4.33.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis – the $4.20 low
The Polkadot upward trend has come to a halt but stays above the $4.00 low. The bearish trend has broken the 4-hour chart’s 21-day SMA. Buyers are battling to lift the price above the 21-day SMA support. The altcoin will resume trading once it crosses the 21-day SMA. However, selling pressure will intensify if the altcoin retraces and falls below the 50-day SMA support.
General Outlook for Polkadot (DOT) – the $4.20 low
Polkadot has risen above the moving averages lines, resuming its bullish trend. The crypto price is currently trading above the $4.20 low but below the $4.60 high. The crypto price will rise if it finds support above the $4.20 low. If the DOT price breaks below the current support, it will fall to $3.89.
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