Polkadot Consolidates, What Can We Expect Next?
The price of Polkadot (DOT) has remained relatively stable in recent days. Looking at the price chart below, DOT has been trading within the range of its support at $6.80 and resistance at $7.50 for the past few days.
As of now, the price has not demonstrated any significant gains or losses. Whether the price moves up or down will depend on whether DOT breaks above the resistance or below the support levels.
If the market remains bullish, DOT could test its resistance at $7.50 and potentially reach $8.0 if it surpasses this level. However, there is currently little movement in the DOT price. Conversely, if the market turns bearish, DOT could drop towards its support at $6.80 or even lower to $6.00.
At present, the MACD is bullish, suggesting that the DOT price could continue its upward trend as the histogram is growing at 0.0833. Similarly, the RSI is at 47.35 and is supported by the smoothed line of 14-SMA.
As of now, the price has not demonstrated any significant gains or losses. Whether the price moves up or down will depend on whether DOT breaks above the resistance or below the support levels.
If the market remains bullish, DOT could test its resistance at $7.50 and potentially reach $8.0 if it surpasses this level. However, there is currently little movement in the DOT price. Conversely, if the market turns bearish, DOT could drop towards its support at $6.80 or even lower to $6.00.
At present, the MACD is bullish, suggesting that the DOT price could continue its upward trend as the histogram is growing at 0.0833. Similarly, the RSI is at 47.35 and is supported by the smoothed line of 14-SMA.
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