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DOT increases 6%, towards the key resistance

January 3, 2022 - Around 2 mins mins to read
  • Key Support Level: $ 25
  • Key Resistance: $ 32

Polkadot (DOT) has completed a short-term correction and is currently creating a trading range between the support at USD 25 and the resistance at USD 32.

The first attempt to exceed this range was rejected last Monday. However, the DOT appears ready for a second attempt.

DOT

DOT / USDT daily chart | Source: TradingView

Technical indicators

Volume: Volume is a bit low, but it benefits buyers at the moment as DOT has hit a higher low.

RSI: The RSI has also made a higher low, which is a bullish sign and is currently hovering above 50 – the neutral level.

MACD: The daily MACD has formed a bullish cross and is sloping up. This is a promising sign for the cops.

DOT

DOT / USDT daily chart | Source: TradingView

Perspectives

The trend for DOT is somewhat bullish but it will take a breakout of major resistance to confirm this.

Short term forecast

DOT managed to halt the downtrend and consolidate below the critical resistance at $ 32. Now the cops will make one more attempt to break through this critical resistance. If successful, the DOT could start a new uptrend.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Blockchain

DOT increases 6%, towards the key resistance

  • Key Support Level: $ 25
  • Key Resistance: $ 32

Polkadot (DOT) has completed a short-term correction and is currently creating a trading range between the support at USD 25 and the resistance at USD 32.

The first attempt to exceed this range was rejected last Monday. However, the DOT appears ready for a second attempt.

DOT

DOT / USDT daily chart | Source: TradingView

Technical indicators

Volume: Volume is a bit low, but it benefits buyers at the moment as DOT has hit a higher low.

RSI: The RSI has also made a higher low, which is a bullish sign and is currently hovering above 50 – the neutral level.

MACD: The daily MACD has formed a bullish cross and is sloping up. This is a promising sign for the cops.

DOT

DOT / USDT daily chart | Source: TradingView

Perspectives

The trend for DOT is somewhat bullish but it will take a breakout of major resistance to confirm this.

Short term forecast

DOT managed to halt the downtrend and consolidate below the critical resistance at $ 32. Now the cops will make one more attempt to break through this critical resistance. If successful, the DOT could start a new uptrend.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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