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

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

2023-07-12No Comments3 Mins Read
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Polkadot’s DOT is transferring greater from the $5.0 help towards the US Greenback. The value may rally if it clears the $5.30 and $5.40 resistance ranges.

  • DOT is slowly transferring greater above the $5.15 resistance zone towards the US Greenback.
  • The value is buying and selling above the $5.20 zone and the 100 easy transferring common (4 hours).
  • There’s a key bullish pattern line forming with help close to $5.10 on the 4-hour chart of the DOT/USD pair (information supply from Kraken).
  • The pair may acquire bullish momentum if there’s a shut above the $5.30 resistance.

Polkadot’s DOT Value Goals Larger

After a pointy decline, DOT worth discovered help close to the $5.0 zone. A low is fashioned close to $4.98 and the worth is now trying a recent improve, much like Bitcoin and Ethereum.

There was a break above the $5.15 and $5.20 resistance ranges. There may be additionally a key bullish pattern line forming with help close to $5.10 on the 4-hours chart of the DOT/USD pair. The pair is now buying and selling above the $5.20 zone and the 100 easy transferring common (4 hours).

Quick resistance is close to the $5.30 stage. It’s close to the 50% Fib retracement stage of the downward transfer from the $5.62 swing excessive to the $4.98 low.

DOT Price (Polkadot)

Supply: DOTUSD on TradingView.com

The following main resistance is close to $5.40 or the 61.8% Fib retracement stage of the downward transfer from the $5.62 swing excessive to the $4.98 low. A profitable break above $5.40 may begin a robust rally. Within the said case, the worth may simply rally towards $5.60 within the coming classes. The following main resistance is seen close to the $6.0 zone.

See also  Is It Time For MATIC Price To Reach $2?

Dips Restricted?

If DOT worth fails to proceed greater above $5.30 or $5.40, it may begin a draw back correction. The primary key help is close to the $5.15 stage and the 100 easy transferring common (4 hours).

The following main help is close to the $5.10 stage and the pattern line, beneath which the worth may decline to $5.00. Any extra losses might maybe open the doorways for a transfer towards the $4.80 help zone within the coming classes.

Technical Indicators

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

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

Main Help Ranges – $5.15, $5.10 and $5.00.

Main Resistance Ranges – $5.30, $5.40, and $5.60.

Source link

Case DOT Indicators Key Polkadot Price rally strong Suggest
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