Polkadot Surpasses the $2.80 Support

Polkadot (DOT) Price Long-term Trend: Bearish

Polkadot’s (DOT) price falls below the moving average lines and surpasses the $2.80 support. In other words, bearish momentum surpassed the bottom price of $3.00 and continued to the low of $0.25. Bulls bought the dips and pushed the price back above the $2.80 support. The altcoin recovered but was stopped at the $3.40 high. The crypto price is moving in a confined range, above the $2.80 support and below the $3.40 high.

On the upside, the DOT price will begin its bullish trend when buyers break through the $3.40 barrier and push the price above the moving average lines. The crypto asset will return to its earlier high of $4.40. The current DOT price is $3.15 as of this writing.

Technical indicators:  

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

Polkadot Indicator Analysis 

On October 10, the DOT price fell sharply from a high of $4.29 to $0.25. There was a pullback, resulting in a long candlestick tail. The lengthy candlestick indicates significant buying pressure at a lower price level. On the downside, the price bars are below the downward-sloping moving average lines.

General Outlook for Polkadot (DOT)

Polkadot surpasses the $2.80 support but remains below the $3.49 peak. The cryptocurrency price corrected upward and broke above the 21-day SMA support, but was stopped by the $3.40 barrier. The cryptocurrency price is bouncing in the center of its range. Meanwhile, the crypto signal remains range-bound, with the altcoin holding above the $2.80 support.

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