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Home Market & Analysis

DOT Price (Polkadot) Pumps 15% As Bulls Aim For Surge To $10

n70products by n70products
January 11, 2024
in Market & Analysis
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DOT Price (Polkadot) Pumps 15% As Bulls Aim For Surge To $10
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Polkadot (DOT) is gaining tempo above the $7.50 resistance in opposition to the US Greenback. The worth is up almost 15% and may rise additional towards $10.00.

  • DOT is exhibiting heavy bullish indicators from the $6.65 help in opposition to the US Greenback.
  • The worth is buying and selling above the $8.00 zone and the 100 easy transferring common (4 hours).
  • There was a break above a key bearish pattern line with resistance close to $7.80 on the 4-hour chart of the DOT/USD pair (knowledge supply from Kraken).
  • The pair may proceed to rally except the bears are capable of defend the $8.88 resistance zone.

Polkadot Value Restarts Rally

After a gentle decline, DOT worth discovered help close to the $6.65 zone. A low was shaped at $6.64 and Polkadot lately began a recent improve. The worth was capable of clear the $6.85 and $7.00 resistance ranges to maneuver right into a optimistic zone, like Bitcoin and Ethereum.

There was a break above a key bearish pattern line with resistance close to $7.80 on the 4-hour chart of the DOT/USD pair. The pair even surpassed the 50% Fib retracement degree of the downward transfer from the $9.58 swing excessive to the $6.64 low.

DOT is now buying and selling above the $8.00 zone and the 100 easy transferring common (4 hours). Quick resistance is close to the $8.45 degree. The subsequent main resistance is close to $8.88 or the 76.4% Fib retracement degree of the downward transfer from the $9.58 swing excessive to the $6.64 low.

DOT Price (Polkadot)

Supply: DOTUSD on TradingView.com

A profitable break above $8.88 may begin one other robust rally. Within the said case, the worth may simply rally towards $9.50 within the close to time period. The subsequent main resistance is seen close to the $10.00 zone.

Are Dips Supported in DOT?

If DOT worth fails to begin a recent improve above $8.45, it may begin a recent decline. The primary key help is close to the $7.80 degree and the identical pattern line.

The subsequent main help is close to the $7.50 degree, beneath which the worth may decline to $7.00. Any extra losses might maybe open the doorways for a transfer towards the $6.65 help zone.

Technical Indicators

4-Hours MACD – The MACD for DOT/USD is now gaining momentum within the bullish zone.

4-Hours RSI (Relative Power Index) – The RSI for DOT/USD is now above the 50 degree.

Main Assist Ranges – $7.80, $7.500 and $7.00.

Main Resistance Ranges – $8.45, $8.88, and $9.50.

Disclaimer: The article is supplied for instructional functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding choices. Use data supplied on this web site fully at your personal danger.



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