Polkadot’s DOT rose to $ 18.50 before correcting bearish against the US dollar. Despite the decline in Bitcoin and Ethereum, it is gaining over $ 15.00.
The DOT rose above $ 12.00 and $ 15.00 before facing sellers around $ 18.50 against the US dollar.
The price is trading above the $ 15.00 support and above the 100 simple moving average (4-hours).
On the 4-hour chart of the DOT / USD pair, there is a key bullish trend line formed with support around $ 15.50.
The pair remains in the positive zone and the price is likely to continue rising towards $ 18.50 and $ 20.00.
Polkadot over $ 15
After closing above the $ 12.00 level, the DOT started a new rally above the $ 15.00 resistance level. There was a strong bullish momentum above $ 15.00 and the price even moved above $ 18.00.
However, the bulls could not test the $ 20.00 level. The recent high was formed around $ 18.37 and the price recently corrected lower. There was a break below the $ 16.50 support level. However, the bulls were active near the $ 15.00 and $ 14.80 support levels.
On the 4-hour chart of the DOT / USD pair, there is an important bullish trend line formed with support around $ 15.50. The price is clearly above the $ 15.00 support and trading nicely above the 100 simple moving average. On the upside, a break above the $ 16.60 level could lead to a new high.
If the DOT price cannot break above $ 16.50 and $ 17.00, there could be a new decline. The first major support is near the $ 15.50 level and the trend line.
A successful break below the trendline support could put the $ 15.00 support at risk. Further losses could possibly require a drop towards the $ 14.00 level.
4-Hour MACD – The MACD for DOT / USD is gaining momentum in the bullish zone.
4-Hour RSI (Relative Strength Index) – The RSI for DOT / USD is still above the 50 level.
Support Levels – $ 15.50, $ 15.00 and $ 14.80.
Resistance Levels – $ 16.50, $ 17.20 and $ 18.50.