Polkadot (DOT) is gaining tempo above the $10.00 resistance in opposition to the US Greenback. The worth may lengthen its rally towards the $12.00 level within the close to time period.

• DOT is gaining tempo above the $9.80 and $10.00 ranges in opposition to the US Greenback.
• The worth is trading above the $10.00 zone and the 100 easy transferring common (4 hours).
• There’s a key bullish pattern line forming with assist at $9.10 on the 4-hour chart of the DOT/USD pair (knowledge supply from Kraken).
• The pair may proceed to rise towards the $12 resistance zone.

Polkadot Value Resumes Rally

After forming a base above the $8.00 level, DOT worth began a recent rally. It gained over 20% in a couple of days and even outperformed Ethereum and Bitcoin at instances.

There was a transparent transfer above the $9.50 and $10.00 resistance ranges. The worth traded to a brand new multi-month high at $11.00 and is at the moment consolidating features. There was a minor pullback under the $10.75 level. The worth continues to be above the 23.6% Fib retracement level of the upward transfer from the $8.26 swing low to the $11.00 high.

DOT is now trading effectively above the $10.00 zone and the 100 easy transferring common (4 hours). There may be additionally a key bullish pattern line forming with assist at $9.10 on the 4-hour chart of the DOT/USD pair. The pattern line is near the 61.8% Fib retracement level of the upward transfer from the $8.26 swing low to the $11.00 high.

Supply: DOTUSD on TradingView.com

Speedy resistance is close to the $10.75 level. The subsequent main resistance is close to $11.00. A profitable break above $11.00 may begin one other sturdy rally. Within the acknowledged case, the value may simply rally towards $12.00 within the close to time period. The subsequent main resistance is seen close to the $13.50 zone.

Are Dips Supported in DOT?

If DOT worth fails to start out a recent improve above $11.00, it may begin a draw back correction. The primary key assist is close to the $10.35 level.

The subsequent main assist is close to the $10.00 level, under which the value may decline to $9.50. Any extra losses could maybe open the doorways for a transfer towards the $9.20 assist zone or the pattern line.

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 level.

Main Help Ranges – $10.35, $10.00 and $9.50.

Main Resistance Ranges – $10.75, $11.00, and $12.00.

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