Polkadot Stabilizes above $4.00 as It Strives to Bounce Back

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price falls to a low of $4.04 as it strives to bounce back. The selling pressure has reached the market’s oversold zone. For the past week, the cryptocurrency’s price has been stabilizing above the $4.00 support, indicating a positive trend. On the negative, additional cryptocurrency declines are unlikely as the altcoin approaches the oversold region.

Polkadot has been reversing each time it retests the market’s oversold territory. On the upside, the altcoin will restart its bullish trend if buyers sustain the price above the moving average lines and the $5.10 barrier level. Today’s price is $4.09 as it consolidates above the present support.

Technical indicators:  

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

Polkadot Indicator Analysis 

Polkadot is trading in the negative trend zone, with price bars falling below the horizontal moving average lines. Doji candlesticks have formed, causing price movement to remain steady. The price bars are stabilizing above the $4.00 support.

General Outlook for Polkadot (DOT)

Polkadot falls below its moving average lines as it strives to bounce back. The cryptocurrency asset has slipped into the bearish trend zone as it resumes consolidating above the important support level of $4.00. The altcoin has hit the oversold region as it strives to recover. Since falling beyond the present support, the cryptocurrency’s price has maintained above $4.00. The crypto signal is positive as the market enters the oversold zone.

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