Polkadot Resumes Its Upward Trend as It Clears the $10.31 High
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Polkadot (DOT) Long-Term Analysis: Bullish
Polkadot’s (DOT) price breaks above the initial obstacle at $8.20, the resistance at $9.58, and clearing the $10.31 high. As a result, the positive momentum has extended to a high of $10.21. The cryptocurrency’s sideways pattern has come to an end with the current price rise. The altcoin is recovering from its earlier downtrend.
The current rise will continue, although resistance will be found at the $17 and $23 highs. Nonetheless, if the altcoin is rejected at the recent high, it will retrace above the $9.58 breakout mark. In the meantime, the current rise continues.
Technical indicators:
Major Resistance Levels – $10, $12, $14
Major Support Levels – $8, $6, $4
Polkadot (DOT) Indicator Analysis
The cryptocurrency price has rebounded above the horizontal moving average lines. This has led the price bars to be far above the moving average lines. The altcoin has a bullish crossing, meaning the 21-day SMA has crossed above the 50-day SMA, giving a positive indication.
What Is the Next Direction for Polkadot (DOT)?
Polkadot has resumed its upward trend as it clears the $10.31 high. On the 4-hour chart, DOT price has risen to the high of $ 10.31 on March 4. The cryptocurrency’s price has been rising for the last 48 hours, retesting the previous high. The crypto signal will return bullish as buyers overcome the resistance at $10.31.
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