Polkadot Uptrend Comes to a Halt as It Struggles below the $6.50 High

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Key Resistance Levels: $10, $12, $14
Key Support Levels: $8, $6,$4

Polkadot (DOT) Price Long-term Trend: Bullish
Polkadot’s (DOT) price has broken through the moving average lines as it struggles below the $6.50 high. Buyers attempted to keep the price above $6.50 but were repelled. The DOT price is now $6.38. If the current resistance is overcome, the cryptocurrency will increase to $8.00. Attempts to break through the $6.50 resistance level and the 50-day SMA have twice resulted in a halt to the upward movement. As long as buyers maintain the price above the $6.50 threshold or the 50-day SMA, the DOT price will increase. If the bears break below the moving average lines, the market will experience a negative decline. The value of the cryptocurrency will drop to a low of $5.50. Conversely, Polkadot will be forced to move range-bound between the moving average lines if it declines below the 50-day SMA.

Daily Chart Indicators Reading:
For period 14, Polkadot is at level 54 on the Relative Strength Index. The coin is currently in the bullish trend zone and has room to rise even higher. Additionally, a further upward movement is indicated by the price bars now being above the moving average lines.

Polkadot (DOT) Medium-term Trend: Bullish
The DOT price has surpassed the moving average lines on the 4-hour chart and may continue to rise. The overbought area of the market is being tested by the rising DOT price. The altcoin will drop as a result of this.

4-hour chart Chart Indicators Reading
The market is overbought where the crypto asset is currently trading. It may decrease as it is currently above the daily Stochastic level of 80. The moving average lines are above the price bars, which could lead to an increase in the altcoin price. Moving average lines have an upward slope.

General Outlook for Polkadot (DOT)
The Polkadot’s upward movement is limited to the $6.50 high as it struggles below the $6.50 high. The bullish momentum has reached an overbought level, which means the altcoin is about to fall. The bullish trend might resume if the altcoin retraces above the moving average lines. Currently, the altcoin is circling above the lines of the moving average.

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