Polkadot Rises as it Approaches the $2.20 Barrier

Polkadot (DOT) Price Long-term Trend: Bullish

Polkadot’s (DOT) price continues as it approaches the $2.20 barrier. The cryptocurrency price is experiencing a pattern of higher highs and higher lows. The bullish trend had previously been stopped at the $2.20 level. The DOT price is currently moving in a close range above the 50-day SMA support and below the resistance at $2.20. Today, the cryptocurrency price is rising as it approaches the $2.20 threshold.

A break above $2.20 will send the altcoin to a high of $3.52. However, if the bears break below the 50-day SMA support, the bullish scenario is negated. A break below the 50-day SMA support may cause the altcoin to retest its prior lows of $1.76 and $1.67. Today’s DOT price is worth $2.10.

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

Polkadot Indicator Analysis

The cryptocurrency price remains above the moving average lines, having found support at the 50-day SMA. After breaking beyond the $2.20 barrier, the DOT price will return to its former highs. The moving average lines have continued downward, implying a previous decline. On the 4-hour chart, the price bars are below the upward-sloping moving averages.

General Outlook for Polkadot (DOT)

Polkadot price is rising as it approaches the $2.20 barrier. The price upward movement is anticipated to encounter the moving average line hurdles. The increasing trend will remain above the moving average lines. However, the $2.20 barrier hasn’t been surpassed since January 3. Meanwhile, the crypto signal is encouraging, with the altcoin trading in a bullish trend zone.

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