Polkadot (DOT) Price Long-term Trend: Bearish
The price of Polkadot (DOT) drops as it returns to its prior low of $3.25. The altcoin is now at the very bottom of the chart. Although it was anticipated that the selling pressure would end at the $3.31 low, it has stopped above the $3.30 low. Polkadot has dropped to the market’s oversold area.
It seems improbable that the cryptocurrency asset will continue to drop below its prior low of $3.25. On the downside, the altcoin will be range-bound between the $3.25 support and the $5.50 resistance if the present support at $3.25 holds. The current DOT price is $3.41 as of the time of this writing.
Technical indicators:
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
The moving average lines are sloping downward as the cryptocurrency falls to the bottom of the chart. The price is compelled to travel steadily lower by the depiction of the price bars as Doji candlesticks. The altcoin has a bearish crossover, with the 21-day SMA falling below the 50-day SMA.
General Outlook for Polkadot (DOT)
Polkadot returns to its prior low of $3.25, placing it near the bottom of its chart. For the second time, the altcoin is being pushed to the bottom of the chart by the bears. The initial low of $3.25 was reached on April 9. The value of the altcoin will rise if buyers show up in the oversold section of the market. The initial barrier to the rising trend will be the moving average lines.
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