Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
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.
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.