Polkadot Rises but Faces the $3.90 Barrier

Polkadot (DOT) Price Long-term Trend: Ranging

The price of Polkadot (DOT) drops below the moving average lines, but it still has to overcome the $3.90 barrier. The DOT price falls below the moving average lines after being rejected twice at the $4.30 and $4.18 obstacles. Currently, the altcoin is trading below the $4.30 resistance but above $3.40. The altcoin dropped to $3.72 before increasing once more.

The upward correction is expected to be rejected near the moving average lines. On the negative side, the DOT price is anticipated to fall to $3.50. Meanwhile, the altcoin is trading below the moving average lines as buyers try to push the price above them. The altcoin is now worth $3.84 as of this writing.

Technical indicators:

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

Polkadot Indicator Analysis

The price bars fluctuate between below and above the moving average lines, indicating a sideways trend. The moving average lines on the 4-hour chart are trending downward, indicating that prices are now declining. The bearish signal is given by the 21-day SMA being below the 50-day SMA support level.

General Outlook for Polkadot (DOT)

Polkadot price is declining but faces the $3.90 barrier. The 21-day SMA barrier has prevented the cryptocurrency price from continuing its upward correction. The cryptocurrency is currently trading below the moving average lines but above the $3.70 support. The altcoin can drop back to its previous low of $3.50 if the bears break through the existing support.

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