DOT Price (Polkadot) Surge to $5.5 – Are Bulls Ready For This? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Polkadot	DOTUSD	Crypto	7,798,171,332	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.020	-0.34%	5.85	5.85	5.85

High Price	Low Price	Open Price	Prev. Close	52 Week Range
5.90	5.81	5.86	5.87	3.56 - 12.01

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:02:09	0.340773	5.85	USD

Price x Volume	Volume	Base Symbol	Related Pairs
541,346.16	92,718.71	DOT	DOTEUR	DOTGBP	DOTBTC

DOT Price (Polkadot) Surge to $5.5 – Are Bulls Ready For This?

02/11/2023 4:58am

NEWSBTC

Polkadot (DOT) is gaining pace above the $4.50 resistance against the US Dollar. The price could surge toward $5.5 if it clears the $4.80 resistance. DOT is slowly moving higher above the $4.50 resistance zone against the US Dollar. The price is trading above the $4.60 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a close above $4.80 and $4.85. Polkadot Price Regains Strength After forming a base above the $4.00 handle, DOT price started a decent increase. The price was able to clear the key barrier at $4.20 to enter a positive zone, like Bitcoin and Ethereum. Polkadot cleared the $4.50 resistance zone and the 100 simple moving average (4 hours). It traded to a new multi-week high at $4.803 and is now consolidating gains. It is well above the 23.6% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high. DOT price is now trading above the $4.60 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high. Source: DOTUSD on TradingView.com Immediate resistance is near the $4.80 level. The next major resistance is near $4.85. A successful break above $4.85 could start another strong rally. In the stated case, the price could easily rally toward $5.20 in the coming days. The next major resistance is seen near the $5.50 zone. Are Dips Supported in DOT? If DOT price fails to continue higher above $4.80 or $4.85, it could start a downside correction. The first key support is near the $4.62 level. The next major support is near the $4.50 level and the trend line, below which the price might decline to $4.35. Any more losses may perhaps open the doors for a move toward the $4.20 support zone. Technical Indicators 4-Hours MACD – The MACD for DOT/USD is now gaining momentum in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now above the 50 level. Major Support Levels – $4.62, $4.50 and $4.20. Major Resistance Levels – $4.80, $4.85, and $5.50.

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