Polkadot (DOT) started a new increase from the $ 28.00 support against the US dollar. DOT is rising and the bulls seem to be watching an upside break above the $ 40.00 resistance.
Polkadot (DOT) started a new increase from the $ 28.00 support against the US dollar. DOT is rising and the bulls seem to be watching an upside break above the $ 40.00 resistance.
The DOT holds the floor above the $ 35.00 and $ 36.00 levels against the US dollar.
The price is trading nicely above the $ 35.00 support and the 100 simple moving average.
There is a major bullish trend line formed with support near $ 35.80 on the 4-hour chart of the DOT / USD pair.
The pair could start a strong rally once it clears the $ 39.50 and $ 40.00 resistance levels.
Polkadot now aims high
After correcting towards $ 28,000, DOT started a new high. It rallied above the $ 30.00 and $ 32.00 levels to return to the positive zone.
The bulls were able to push the price above the $ 35.00 level and the 100 simple moving average (4 hours). The last volatility was formed around $ 34.83 before the price moved above $ 36.00.
The price is currently trading above the $ 37.00 level. There is also a major bullish trend line formed with support near $ 35.80 on the 4-hour chart of the DOT / USD pair.
Instant resistance is near the $ 38.35 level. The main resistance is still near the $ 39.50 and $ 40.00 levels.
A successful break above $ 39.50 and a close above $ 40.00 could start a strong rally. In the stated situation, the price can easily increase by 10% -15% in the near term.
Are Bottoms Supported?
If the DOT price does not rise above $ 39.50 or $ 40.00, there could be a new decline. Initial key support is near the $ 37.60 and $ 37.50 levels.
The next major support is near the $ 35.80 level and the bullish trend line. More losses could perhaps open the doors for a move towards the $ 32.00 support zone.
Technical Indicators
4-Hour MACD – The MACD for DOT / USD is now gaining momentum in the bullish zone.
4-Hour RSI (Relative Strength Index) – The RSI for DOT / USD is currently above the 50 level.
Major Support Levels – $ 37.50, $ 36.00 and $ 35.80.
Major Resistance Levels – $ 38.35, $ 39.50 and $ 40.00.
To get the latest news To our Telegram channel, To our Twitter page and To our Facebook page You can subscribe.
