Polkadot Varies While Its Recovery Is Stuck at $7.30
Login

Polkadot Varies While Its Recovery Is Stuck at $7.30

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 while its recovery is stuck at $7.30. The cryptocurrency asset has been declining after reaching a high of $11.85. DOT price experienced a steep drop below the moving average lines during its initial collapse before stalling above the 50-day SMA.

The downturn resumed after the 50-day SMA was violated. The bearish momentum continued to a low of $5.67, although bulls bought on dips. The altcoin recovered above the $6.20 support level and resumed consolidation above it.

The DOT/USD exchange rate is currently $6.62. On the downside, if the present $6.20 support holds, the DOT price will trade above it but below the moving average lines or the $9.20 resistance.

Polkadot Varies While Its Recovery Is Stuck at $7.30
DOT/USD – Daily Chart

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

Daily Chart Indicators Reading:
The price bars are below the downward-sloping moving average lines, indicating a current fall. The altcoin has undergone a bearish crossover, with the 21-day SMA crossing below the 50-day SMA. The bearish signal has weakened above the $6.20 support.

The 21-day SMA is currently holding back the altcoin’s upward movement, causing it to fluctuate.

General Outlook for Polkadot (DOT)
Polkadot is still trading above its current support level of $6.20 while its recovery is stuck at $7.30. On the 4-hour chart, the altcoin trades in a narrow range of $6.20 to $7.30. On the upside, the price advance is being rejected at the 21-day SMA, as the altcoin declines and retests its present support.

The crypto signal will be negative if the present support level is broken.

Polkadot Varies While Its Recovery Is Stuck at $7.30
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