Polkadot’s Positive Impetus Halts above $2.00

Polkadot (DOT) Price Long-term Trend: Bullish

Polkadot’s (DOT) positive impetus halts above $2.00 after recovering from a low of $1.67. Buyers pushed the price above the moving average lines, but the positive impetus faded. The upward trend has been halted by resistance at $2.20. On the downside, if the cryptocurrency price retraces and maintains above the 50-day SMA support, the rising trend will commence, retesting the $2.20 mark.

A violation of the $2.20 barrier would propel the altcoin above the $2.40 high. However, if the cryptocurrency falls below the 50-day SMA support, the DOT price will become caught between the moving average lines. In other words, the DOT price will decline above the 21-day SMA support, or $1.85 low. The current DOT price is $2.12 at the time of writing.

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

Polkadot Indicator Analysis

Following the current breakout, the cryptocurrency price broke above the moving average lines. However, following the rejection at the previous high, the price bars may move between the moving average lines. On the 4-hour chart, the moving average lines are trending upward, indicating a bullish trend. DOT prices will rise as long as the price bars are higher than the moving average lines.

General Outlook for Polkadot (DOT)

Polkadot prices are rising, but the positive impetus halts above $2.00. The cryptocurrency price is experiencing a pattern of higher highs and higher lows. The increasing trend has stalled above the $2.00 support level.

The DOT price trades above the moving average lines but below the resistance level of $2.20. The positive trend will restart if the price rises above the $2.20 high. The cryptocurrency signal is positive, as the price rises above the moving average lines.

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