Even though we are seeing some gains in the crypto market over the past few hours, DOT still has a good way to go to give us really important signals. If you want to know where the price of Polkadot is going, stay and read this post.
At the time of this writing, DOT is trading at $ 34.40, accumulating a gain of 6.03% in the last 24 hours.
Despite the fact that we have been seeing some rather boring behavior for the last few weeks, still the DOT price continues to maintain its uptrend like many other cryptocurrencies.
From the weekly candle chart we see a clear succession of increasingly higher lows and highs, which speaks of an upward trend in the medium term.
The week that just ended was one of significant losses for Polkadot, however the price failed to cross the immediate support zone around $ 30, leaving even a significant rejection of bearish intentions.
Today the price is opening higher, behavior that may be giving us signs of a positive future for the near future.
If we talk about a healthy correction, since Polkadot made it after going a little beyond the 50% Fibonacci retracement, now according to that technical analysis tool, the next targets are $ 50 and $ 62.
Key Resistors / Supports for DOT Price
Going down to the daily chart we can see more clearly the levels of resistances and supports that we should watch in the short term.
Today the price is crossing a small immediate resistance, located at $ 33, which speaks to us of an intention of the bulls to start manufacturing higher lows and highs again, and that may well be taken as an early signal of resumption of the trend.
However, the most relevant resistance is at $ 38.50. If crossed, we will hardly see DOT being hampered by the supply zone left by the previous all-time high. At the moment this is the most likely scenario.
As for supports, we only have one relevant at the moment, more precisely a zone, close to $ 30. In case it is crossed, we will see an accentuation of sales, giving way to a further correction before resuming the previous trend.
Do you think DOT is going to hit new all-time highs in the near future? Let us know how you thought about this Polkadot technical analysis in the comments!
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