Polkadot Makes Positive Moves But Faces Rejection At $7.00

Polkadot (DOT) price has continued to rise after breaking through resistance at $6.81. The bullish momentum has now surpassed the high of $7.00.

Polkadot price long term analysis: bullish

The cryptocurrency asset is expected to re-enter the $7.41 area. The bullish momentum has broken through the resistance levels of $6.56 and $6.81. The price of DOT has moved into the overbought area of the market. As the market approaches the overbought area, the current bullish momentum will take it to a high of $7.41. If the buyers fail to overcome the resistance at $7.00, the price of DOT will fall back down to the support at $6.81.

Polkadot indicator analysis

The price of Polkadot (DOT) has continued to rise after breaking through resistance at $6.81. The bullish momentum has now surpassed the high of $7.00. The cryptocurrency asset is expected to re-enter the $7.41 area. The bullish momentum has broken through the resistance levels of $6.56 and $6.81. The price of DOT has moved into the overbought area of the market. As the market approaches the overbought area, the current bullish momentum will take it to a high of $7.41. If the buyers fail to overcome the resistance at $7.00, the price of DOT will fall back down to the support at $6.81.

Technical indicators:

Key resistance levels – $10 and $12

Key support levels – $6 and $4

What is the next direction for Polkadot?

Although Polkadot is trading in a restricted trading range between $6.00 and $6.81, the price is below the $6.81 resistance level. The $6.81 resistance level has slowed the upward movement. If the current levels are broken, the altcoin will develop a trend.

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.

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