Polkadot Stabilizes above $9.00 but Remains within Its Range
Login

Polkadot Stabilizes above $9.00 but Remains within Its Range

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price has fallen below the moving average lines but remains within its range. Following the downturn, bulls bought the dip and surged to $10.04, or the 21-day SMA. Since March 19, 2024, the DOT price has been between the moving average lines.

The altcoin is now worth $9.59 as of this writing. The bulls and bears have failed to breach the moving average lines, not allowing the altcoin to trend. On the positive side, if the altcoin rebounds above the $9.00 support level, the 21-day SMA will be broken. The altcoin will advance and revisit its prior high of $11.85.

Polkadot Stabilizes above $9.00 but Remains within Its Range
DOT/USD – Daily Chart

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

Daily Chart Indicators Reading:
Polkadot is stabilizing above $9.00, with the price bars caught between the moving average lines. The moving average lines are sloping horizontally following the termination of the earlier trend. The 21-day and 50-day SMAs are preventing the altcoin from resuming its upward trend.

General Outlook for Polkadot (DOT)
Polkadot is caught between the moving average lines but remains within its range. The cryptocurrency will fall when it approaches the 50-day SMA. A break below the 50-day SMA will indicate the resumption of the decline. This will force the altcoin to fall further, reaching a low of $7.22.

However, if the 50-day SMA support holds, the crypto signal will resume its range-bound movement.

Polkadot Stabilizes above $9.00 but Remains within Its Range
DOT/USD – 4 hour Chart

You can purchase Lucky Block here. Buy LBLOCK

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News