{"id":16801,"date":"2023-01-25T05:53:36","date_gmt":"2023-01-25T09:53:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16801"},"modified":"2023-01-25T05:53:36","modified_gmt":"2023-01-25T09:53:36","slug":"dot-price-polkadot-indicators-suggest-strong-case-for-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/25\/dot-price-polkadot-indicators-suggest-strong-case-for-fresh-rally\/","title":{"rendered":"DOT Price (Polkadot) Indicators Suggest Strong Case For Fresh Rally"},"content":{"rendered":"

Polkadot\u2019s DOT started a fresh increase from the $5.60 support against the US Dollar. It correcting gains, but indicators suggest high chances of a fresh increase.<\/em><\/p>\n

DOT is holding the ground above the $6.00 and $5.80 levels against the US dollar.
\nThe price is trading nicely above the $6.00 support and the 100 simple moving average (4-hours).
\nThere is a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could start a strong rally once it clears the $6.40 and $6.50 resistance levels.<\/p>\n

Polkadot\u2019s DOT Eyes Fresh Rally<\/h2>\n

After forming a base above the $5.60 zone, DOT price started a fresh increase. It climbed above the $5.80 and $6.00 levels to move back into a positive zone.<\/p>\n

The bulls were able to push the price above the $6.50 level and 100 simple moving average (4-hours). The price traded as high as $6.82 and recently started a downside correction, similar to bitcoin<\/a> and ethereum<\/a>. There was a move below the $6.50 level.<\/p>\n

Dot price dipped below the 50% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high. However, the bulls are protecting the $6.15 support zone.<\/p>\n

There is also a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT\/USD pair. The bulls are also protecting the 61.8% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high.<\/p>\n

It is also above the $6.00 support and the 100 simple moving average (4-hours). An immediate resistance is near the $6.40 level. The main resistance is still near the $6.65 and $6.80 levels.<\/p>\n

<\/a><\/p>\n

Source: DOTUSD on TradingView.com<\/a><\/p>\n

A successful break above $6.65 and a close above $6.80 could start a strong rally. In the stated case, the price could easily rise 10%-15% in the near term.<\/p>\n

Dips Limited?<\/h2>\n

If DOT price fails to continue higher above $6.65 or $6.80, there could be more losses. The first key support is near the $6.05 and $6.00 levels.<\/p>\n

The next major support is near the $5.80 level and the 100 simple moving average (4-hours). Any more losses may perhaps open the doors for a move towards the $5.50 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOT\/USD is now losing momentum in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOT\/USD is now just below the 50 level.<\/p>\n

Major Support Levels \u2013 $6.05, $6.00 and $5.80.<\/p>\n

Major Resistance Levels \u2013 $6.40, $6.65 and $6.80.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Polkadot\u2019s DOT started a fresh increase from the $5.60 support against the US Dollar. It correcting gains, but indicators suggest high chances of a fresh increase.<\/em><\/p>\n

DOT is holding the ground above the $6.00 and $5.80 levels against the US dollar.
\nThe price is trading nicely above the $6.00 support and the 100 simple moving average (4-hours).
\nThere is a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could start a strong rally once it clears the $6.40 and $6.50 resistance levels.<\/p>\n

Polkadot\u2019s DOT Eyes Fresh Rally<\/h2>\n

After forming a base above the $5.60 zone, DOT price started a fresh increase. It climbed above the $5.80 and $6.00 levels to move back into a positive zone.<\/p>\n

The bulls were able to push the price above the $6.50 level and 100 simple moving average (4-hours). The price traded as high as $6.82 and recently started a downside correction, similar to bitcoin<\/a> and ethereum<\/a>. There was a move below the $6.50 level.<\/p>\n

Dot price dipped below the 50% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high. However, the bulls are protecting the $6.15 support zone.<\/p>\n

There is also a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT\/USD pair. The bulls are also protecting the 61.8% Fib retracement level of the upward move from the $5.59 swing low to $6.82 high.<\/p>\n

It is also above the $6.00 support and the 100 simple moving average (4-hours). An immediate resistance is near the $6.40 level. The main resistance is still near the $6.65 and $6.80 levels.<\/p>\n

<\/a><\/p>\n

Source: DOTUSD on TradingView.com<\/a><\/p>\n

A successful break above $6.65 and a close above $6.80 could start a strong rally. In the stated case, the price could easily rise 10%-15% in the near term.<\/p>\n

Dips Limited?<\/h2>\n

If DOT price fails to continue higher above $6.65 or $6.80, there could be more losses. The first key support is near the $6.05 and $6.00 levels.<\/p>\n

The next major support is near the $5.80 level and the 100 simple moving average (4-hours). Any more losses may perhaps open the doors for a move towards the $5.50 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOT\/USD is now losing momentum in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOT\/USD is now just below the 50 level.<\/p>\n

Major Support Levels \u2013 $6.05, $6.00 and $5.80.<\/p>\n

Major Resistance Levels \u2013 $6.40, $6.65 and $6.80.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-16801","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=16801"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16801\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16801"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}