{"id":26655,"date":"2023-07-12T04:52:37","date_gmt":"2023-07-12T08:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26655"},"modified":"2023-07-12T04:52:37","modified_gmt":"2023-07-12T08:52:37","slug":"dot-price-polkadot-key-indicators-suggest-strong-case-for-rally-to-6","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/12\/dot-price-polkadot-key-indicators-suggest-strong-case-for-rally-to-6\/","title":{"rendered":"DOT Price (Polkadot) Key Indicators Suggest Strong Case For Rally To $6"},"content":{"rendered":"

Polkadot\u2019s DOT is moving higher from the $5.0 support against the US Dollar. The price could rally if it clears the $5.30 and $5.40 resistance levels.<\/em><\/p>\n

DOT is slowly moving higher above the $5.15 resistance zone against the US Dollar.
\nThe price is trading above the $5.20 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $5.10 on the 4-hour chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if there is a close above the $5.30 resistance.<\/p>\n

Polkadot\u2019s DOT Price Aims Higher<\/h2>\n

After a sharp decline, DOT price found support near the $5.0 zone. A low is formed near $4.98 and the price is now attempting a fresh increase, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above the $5.15 and $5.20 resistance levels. There is also a key bullish trend line forming with support near $5.10 on the 4-hours chart of the DOT\/USD pair. The pair is now trading above the $5.20 zone and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $5.30 level. It is near the 50% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low.<\/p>\n\n

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

The next major resistance is near $5.40 or the 61.8% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low. A successful break above $5.40 could start a strong rally. In the stated case, the price could easily rally toward $5.60 in the coming sessions. The next major resistance is seen near the $6.0 zone.<\/p>\n

Dips Limited?<\/h2>\n

If DOT price fails to continue higher above $5.30 or $5.40, it could start a downside correction. The first key support is near the $5.15 level and the 100 simple moving average (4 hours).<\/p>\n

The next major support is near the $5.10 level and the trend line, below which the price might decline to $5.00. Any more losses may perhaps open the doors for a move toward the $4.80 support zone in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $5.15, $5.10 and $5.00.<\/p>\n

Major Resistance Levels \u2013 $5.30, $5.40, and $5.60.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Polkadot\u2019s DOT is moving higher from the $5.0 support against the US Dollar. The price could rally if it clears the $5.30 and $5.40 resistance levels.<\/em><\/p>\n

DOT is slowly moving higher above the $5.15 resistance zone against the US Dollar.
\nThe price is trading above the $5.20 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $5.10 on the 4-hour chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if there is a close above the $5.30 resistance.<\/p>\n

Polkadot\u2019s DOT Price Aims Higher<\/h2>\n

After a sharp decline, DOT price found support near the $5.0 zone. A low is formed near $4.98 and the price is now attempting a fresh increase, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above the $5.15 and $5.20 resistance levels. There is also a key bullish trend line forming with support near $5.10 on the 4-hours chart of the DOT\/USD pair. The pair is now trading above the $5.20 zone and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $5.30 level. It is near the 50% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low.<\/p>\n

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

The next major resistance is near $5.40 or the 61.8% Fib retracement level of the downward move from the $5.62 swing high to the $4.98 low. A successful break above $5.40 could start a strong rally. In the stated case, the price could easily rally toward $5.60 in the coming sessions. The next major resistance is seen near the $6.0 zone.<\/p>\n

Dips Limited?<\/h2>\n

If DOT price fails to continue higher above $5.30 or $5.40, it could start a downside correction. The first key support is near the $5.15 level and the 100 simple moving average (4 hours).<\/p>\n

The next major support is near the $5.10 level and the trend line, below which the price might decline to $5.00. Any more losses may perhaps open the doors for a move toward the $4.80 support zone in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $5.15, $5.10 and $5.00.<\/p>\n

Major Resistance Levels \u2013 $5.30, $5.40, and $5.60.<\/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-26655","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\/26655","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=26655"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26655\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26655"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}