More
    HomeDOTDOT Price (Polkadot) Key Indicators Suggest Strong Case For Rally To $6

    DOT Price (Polkadot) Key Indicators Suggest Strong Case For Rally To $6

    Published on

    DIGITAL MARKETING SERVICES

    spot_img

    Polkadot’s DOT is moving higher from the $5.0 support against the US Dollar. The price could rally if it clears the $5.30 and $5.40 resistance levels.

    • DOT is slowly moving higher above the $5.15 resistance zone against the US Dollar.
    • The price is trading above the $5.20 zone and the 100 simple moving average (4 hours).
    • There is a key bullish trend line forming with support near $5.10 on the 4-hour chart of the DOT/USD pair (data source from Kraken).
    • The pair could gain bullish momentum if there is a close above the $5.30 resistance.

    Polkadot’s DOT Price Aims Higher

    After a sharp decline, DOT price found support near the $5.0 zone. A low is formed near $4.98 and the price is now attempting a fresh increase, similar to Bitcoin and Ethereum.

    There was a break above the $5.15 and $5.20 resistance levels. There is also a key bullish trend line forming with support near $5.10 on the 4-hours chart of the DOT/USD pair. The pair is now trading above the $5.20 zone and the 100 simple moving average (4 hours).

    Immediate resistance is near the $5.30 level. It is near the 50% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low.

    DOT Price (Polkadot) Key Indicators Suggest Strong Case For Rally To

    Source: DOTUSD on TradingView.com

    The next major resistance is near $5.40 or the 61.8% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low. A successful break above $5.40 could start a strong rally. In the stated case, the price could easily rally toward $5.60 in the coming sessions. The next major resistance is seen near the $6.0 zone.

    Dips Limited?

    If DOT price fails to continue higher above $5.30 or $5.40, it could start a downside correction. The first key support is near the $5.15 level and the 100 simple moving average (4 hours).

    The next major support is near the $5.10 level and the trend line, below which the price might decline to $5.00. Any more losses may perhaps open the doors for a move toward the $4.80 support zone in the coming sessions.

    Technical Indicators

    4-Hours MACD – The MACD for DOT/USD is now gaining momentum in the bullish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now above the 50 level.

    Major Support Levels – $5.15, $5.10 and $5.00.

    Major Resistance Levels – $5.30, $5.40, and $5.60.

    Source: NewsBTC.com

    The post DOT Price (Polkadot) Key Indicators Suggest Strong Case For Rally To $6 appeared first on Crypto Breaking News.

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu

    A popular crypto trader believes one Solana (SOL)-based altcoin project is on the verge...

    Gods Unchained Goes Mobile, Brings NFTs to Gamers’ Fingertips

    Gods Unchained Goes Mobile, Brings NFTs to Gamers’ Fingertips Immutable’s reward-winning NFT-based card game Gods...

    Ethereum Unleashes Scaling Power: $2.3 Billion Unlocked As Blast Goes Live

    Ethereum Unleashes Scaling Power: $2.3 Billion Unlocked As Blast Goes Live Blast, an Ethereum layer-2...

    Blast network TVL plummets 65% losing $2 billion in 24 hours post-mainnet launch

    Blast network TVL plummets 65% losing $2 billion in 24 hours post-mainnet launch Crypto investors...

    More like this

    Analyst Says Solana-Based Altcoin Primed To Hit New All-Time High, Maps Path Forward for Shiba Inu

    A popular crypto trader believes one Solana (SOL)-based altcoin project is on the verge...

    Gods Unchained Goes Mobile, Brings NFTs to Gamers’ Fingertips

    Gods Unchained Goes Mobile, Brings NFTs to Gamers’ Fingertips Immutable’s reward-winning NFT-based card game Gods...

    Ethereum Unleashes Scaling Power: $2.3 Billion Unlocked As Blast Goes Live

    Ethereum Unleashes Scaling Power: $2.3 Billion Unlocked As Blast Goes Live Blast, an Ethereum layer-2...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es