{"id":29921,"date":"2023-09-21T05:53:13","date_gmt":"2023-09-21T09:53:13","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=29921"},"modified":"2023-09-21T05:53:13","modified_gmt":"2023-09-21T09:53:13","slug":"dot-price-polkadot-hints-at-potential-recovery-heres-what-could-propel-it-to-4-8","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/21\/dot-price-polkadot-hints-at-potential-recovery-heres-what-could-propel-it-to-4-8\/","title":{"rendered":"DOT Price (Polkadot) Hints At Potential Recovery, Here\u2019s What Could Propel It To $4.8"},"content":{"rendered":"

Polkadot\u2019s DOT is recovering higher from the $3.92 support against the US Dollar. The price could gain pace if it clears the $4.20 and $4.35 resistance levels.<\/em><\/p>\n

DOT is slowly moving higher above the $4.05 resistance zone against the US Dollar.
\nThe price is trading just above the $4.15 zone and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $4.175 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 $4.20 and $4.35.<\/p>\n

Polkadot\u2019s DOT Price Faces Uphill Task<\/h2>\n

After a sharp decline, DOT price found support near the $3.90 zone. A low is formed near $3.91 and the price is now attempting a fresh increase, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above the $4.00 and $4.05 resistance levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $4.80 swing high to the $3.91 low. DOT is now trading just above the $4.15 zone and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $4.20 level. There is also a key bearish trend line forming with resistance near $4.175 on the 4-hour chart of the DOT\/USD pair.<\/p>\n

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

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

The next major resistance is near $4.35. It is near the 50% Fib retracement level of the downward move from the $4.80 swing high to the $3.91 low. A successful break above $4.35 could start a strong rally. In the stated case, the price could easily rally toward $4.80 in the coming days. The next major resistance is seen near the $5.0 zone.<\/p>\n

Another Decline?<\/h2>\n

If DOT price fails to continue higher above $4.20 or $4.35, it could start another decline. The first key support is near the $4.05 level.<\/p>\n

The next major support is near the $3.90 level and the last low, below which the price might decline to $3.75. Any more losses may perhaps open the doors for a move toward the $3.50 support zone.<\/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 $4.05, $3.90 and $3.75.<\/p>\n

Major Resistance Levels \u2013 $4.20, $4.35, and $4.80.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Polkadot\u2019s DOT is recovering higher from the $3.92 support against the US Dollar. The price could gain pace if it clears the $4.20 and $4.35 resistance levels.<\/em><\/p>\n

DOT is slowly moving higher above the $4.05 resistance zone against the US Dollar.
\nThe price is trading just above the $4.15 zone and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $4.175 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 $4.20 and $4.35.<\/p>\n

Polkadot\u2019s DOT Price Faces Uphill Task<\/h2>\n

After a sharp decline, DOT price found support near the $3.90 zone. A low is formed near $3.91 and the price is now attempting a fresh increase, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above the $4.00 and $4.05 resistance levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $4.80 swing high to the $3.91 low. DOT is now trading just above the $4.15 zone and the 100 simple moving average (4 hours).<\/p>\n

Immediate resistance is near the $4.20 level. There is also a key bearish trend line forming with resistance near $4.175 on the 4-hour chart of the DOT\/USD pair.<\/p>\n

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

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

The next major resistance is near $4.35. It is near the 50% Fib retracement level of the downward move from the $4.80 swing high to the $3.91 low. A successful break above $4.35 could start a strong rally. In the stated case, the price could easily rally toward $4.80 in the coming days. The next major resistance is seen near the $5.0 zone.<\/p>\n

Another Decline?<\/h2>\n

If DOT price fails to continue higher above $4.20 or $4.35, it could start another decline. The first key support is near the $4.05 level.<\/p>\n

The next major support is near the $3.90 level and the last low, below which the price might decline to $3.75. Any more losses may perhaps open the doors for a move toward the $3.50 support zone.<\/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 $4.05, $3.90 and $3.75.<\/p>\n

Major Resistance Levels \u2013 $4.20, $4.35, and $4.80.<\/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-29921","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\/29921","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=29921"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29921\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29921"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}