Polkadot RIsks a Fall at $10 as It Reaches an Overbought Area

Polkadot (DOT) Price Long-term Trend: Bullish

Polkadot’s (DOT) price pauses as it reaches an overbought area. On November 18, the altcoin rose to a high of $10.41 before falling back. In prior price activity, the altcoin soared to highs of $9.58 and $11.85, then fell. Buyers have failed to lift the cryptocurrency price above the $12 barrier. The altcoin has been overbought at its recent highs. DOT prices are currently rising to the overbought sector of the market.

According to the price prediction, the altcoin will increase before reversing at the 1.272 Fibonacci extension, or $10.97. Meanwhile, DOT prices are rising, reaching a high of $9.32.

Technical indicators:  

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

Polkadot Indicator Analysis 

On November 23 and 24, there are two candlestick wicks pointing towards the $11 resistance zone. The candlestick wicks signal strong selling pressure at higher prices. The price bars are above the upward-sloping moving average lines. The altcoin will continue to rise because the price bars are above the moving average lines.

General Outlook for Polkadot (DOT)

Polkadot is in a sideways trend as it reaches an overbought area. Polkadot is now trading above the $8.00 support and below the $9.50 resistance level. Price movement has been constrained due to the presence of Doji candlesticks. The crypto signal is range-bound, with the altcoin pausing below its previous high.

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