Polkadot (DOT)

Polkadot (DOT) Holding Positive aspects Regardless of Sharp Drop in BTC and ETH


Polkadot’s DOT surged in the direction of $18.50 earlier than correcting decrease in opposition to the US Greenback. It’s holding beneficial properties above $15.00 regardless of a crash in bitcoin and Ethereum.

  • DOT rallied above $12.00 and $15.00 earlier than it confronted sellers close to $18.50 in opposition to the US greenback.
  • The worth is buying and selling properly above the $15.00 assist and he 100 easy shifting common (4-hours).
  • There’s a key bullish development line forming with assist close to $15.50 on the 4-hours chart of the DOT/USD pair (knowledge supply from Kraken).
  • The pair stays in a constructive zone and it’s prone to proceed increased in the direction of $18.50 and $20.00.

Polkadot’s DOT Steady Above $15

After a detailed above the $12.00 degree, DOT began a recent rally above the $15.00 resistance degree. There was a robust bullish momentum above $15.00 and the value even climbed above $18.00.

Nonetheless, the bulls failed to check the $20.00 degree. The current excessive was fashioned close to $18.37 and the value just lately corrected decrease. There was a break beneath the $16.50 assist degree, however the bulls have been lively close to the $15.00 and $14.80 assist ranges (a multi-touch zone).

A low is fashioned close to $14.78 and the value is presently rising. It broke the $16.00 degree and examined the 50% Fib retracement degree of the downward transfer from the $18.37 swing excessive to $14.78 low.

Supply: DOTUSD on TradingView.com

There may be additionally a key bullish development line forming with assist close to $15.50 on the 4-hours chart of the DOT/USD pair. The worth is clearly buying and selling properly above the $15.00 assist and he 100 easy shifting common (4-hours). On the upside, a break above the $16.60 degree may spark a recent improve.

The subsequent key resistance could possibly be close to $17.50 or the 76.4% Fib retracement degree of the downward transfer from the $18.37 swing excessive to $14.78 low. Any extra beneficial properties could probably name for a break above $18.50.

Recent Dip?

If DOT value fails to proceed increased above $16.50 and $17.00, there could possibly be a recent decline. The primary key assist is close to the $15.50 degree and the development line.

A profitable break beneath the development line assist may put the $15.00 assist at a threat. Any extra losses could probably name for a drop in the direction of the $14.00 degree.

Technical Indicators

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

4-Hours RSI (Relative Energy Index) – The RSI for DOT/USD continues to be above the 50 degree.

Main Help Ranges – $15.50, $15.00 and $14.80.

Main Resistance Ranges – $16.50, $17.20 and $18.50.



Supply