Technical indicators:
Major Resistance Levels – $10, $12, $14
Major Support Levels – $8, $6, $4
DOT/USD Long-term Trend: Bullish
Polkadot’s (DOT) price is in an upward correction but turns from $9 overhead resistance as it resumes a downtrend. . On the August 9 uptrend; the DOT price was repelled at the high of $9.45 as buyers failed to keep the price above the resistance level. The cryptocurrency is also trading in the overbought region of the market. Polkadot will rise to $10.80 and $12 price levels if the bulls break the resistance at $9, On the other hand, if the bulls fail to break the overhead resistance, the altcoin will decline and find support above the $7.68 support. However, the downtrend will resume if the DOT price retraces and breaks below the moving average lines. The altcoin will further decline to the low of $6.52 price level.
Daily Chart Indicators Reading:
DOT is at level 60 of the Relative Strength Index for period 14. It indicates that the price is in the bullish trend zone and may further rise. The price is above the 21-day line SMA and 50-day line SMA which implies a further upward move.
DOT/USD Medium-term bias: Bearish
On the 4– hour chart, the DOT price is in a downward correction. It is facing rejection at level $9.39. Meanwhile, on the August 9 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that DOT will fall but reverse at level 1.272 Fibonacci extension or $8.45 price level.
4-hour Chart Indicators Reading
The altcoin is below the 20 % range of the daily stochastic. It indicates that the coin has fallen to the oversold region. The 21-day line and 50-day line moving averages are sloping upward indicating the uptrend.
General Outlook for Polkadot
Polkadot is in an upward move but turns from $9 overhead resistance as it resumes a downtrend. The cryptocurrency is trading in the overbought region of the market, hence the attraction of sellers. On the daily chart, the uptrend will resume if price finds support above the moving average lines.
You can purchase crypto coins 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 results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.