{"id":31803,"date":"2023-11-02T05:52:57","date_gmt":"2023-11-02T09:52:57","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31803"},"modified":"2023-11-02T05:52:57","modified_gmt":"2023-11-02T09:52:57","slug":"dot-price-polkadot-surge-to-5-5-are-bulls-ready-for-this","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/02\/dot-price-polkadot-surge-to-5-5-are-bulls-ready-for-this\/","title":{"rendered":"DOT Price (Polkadot) Surge to $5.5 \u2013 Are Bulls Ready For This?"},"content":{"rendered":"

Polkadot (DOT) is gaining pace above the $4.50 resistance against the US Dollar. The price could surge toward $5.5 if it clears the $4.80 resistance.<\/em><\/p>\n

DOT is slowly moving higher above the $4.50 resistance zone against the US Dollar.
\nThe price is trading above the $4.60 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $4.50 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 $4.80 and $4.85.<\/p>\n

Polkadot Price Regains Strength<\/h2>\n

After forming a base above the $4.00 handle, DOT price started a decent increase. The price was able to clear the key barrier at $4.20 to enter a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Polkadot cleared the $4.50 resistance zone and the 100 simple moving average (4 hours). It traded to a new multi-week high at $4.803 and is now consolidating gains. It is well above the 23.6% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high.<\/p>\n

DOT price is now trading above the $4.60 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high.<\/p>\n

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

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

Immediate resistance is near the $4.80 level. The next major resistance is near $4.85. A successful break above $4.85 could start another strong rally. In the stated case, the price could easily rally toward $5.20 in the coming days. The next major resistance is seen near the $5.50 zone.<\/p>\n

Are Dips Supported in DOT?<\/h2>\n

If DOT price fails to continue higher above $4.80 or $4.85, it could start a downside correction. The first key support is near the $4.62 level.<\/p>\n

The next major support is near the $4.50 level and the trend line, below which the price might decline to $4.35. Any more losses may perhaps open the doors for a move toward the $4.20 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 $4.62, $4.50 and $4.20.<\/p>\n

Major Resistance Levels \u2013 $4.80, $4.85, and $5.50.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Polkadot (DOT) is gaining pace above the $4.50 resistance against the US Dollar. The price could surge toward $5.5 if it clears the $4.80 resistance.<\/em><\/p>\n

DOT is slowly moving higher above the $4.50 resistance zone against the US Dollar.
\nThe price is trading above the $4.60 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $4.50 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 $4.80 and $4.85.<\/p>\n

Polkadot Price Regains Strength<\/h2>\n

After forming a base above the $4.00 handle, DOT price started a decent increase. The price was able to clear the key barrier at $4.20 to enter a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Polkadot cleared the $4.50 resistance zone and the 100 simple moving average (4 hours). It traded to a new multi-week high at $4.803 and is now consolidating gains. It is well above the 23.6% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high.<\/p>\n

DOT price is now trading above the $4.60 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high.<\/p>\n

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

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

Immediate resistance is near the $4.80 level. The next major resistance is near $4.85. A successful break above $4.85 could start another strong rally. In the stated case, the price could easily rally toward $5.20 in the coming days. The next major resistance is seen near the $5.50 zone.<\/p>\n

Are Dips Supported in DOT?<\/h2>\n

If DOT price fails to continue higher above $4.80 or $4.85, it could start a downside correction. The first key support is near the $4.62 level.<\/p>\n

The next major support is near the $4.50 level and the trend line, below which the price might decline to $4.35. Any more losses may perhaps open the doors for a move toward the $4.20 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 $4.62, $4.50 and $4.20.<\/p>\n

Major Resistance Levels \u2013 $4.80, $4.85, and $5.50.<\/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-31803","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\/31803","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=31803"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31803\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31803"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}