Polkadot Price Analysis: DOT Spikes 8%, Heading Towards Crucial Resistance

Following an 8% everyday boost, DOT tries to retest the crucial resistance at $32 on restored momentum.

Key Support level: $25

Key Resistance level: $32

Polkadot’s DOT native token finished a short-term correction and is now developing an assistance flooring and trading variety in between the assistance level at $25 and resistance at $32.

The very first effort to break out above this trading location was declined lastMonday However, DOT appears prepared for a 2nd tryout.

Chart by Trading View

Technical Indicators

Trading Volume: An affordable quantity of volume on the last effort on Monday to break above $32. The existing volume is a bit low (perhaps due to the weekend), however it prefers the purchasers today. Watch out for the volume on Monday.

RSI: The RSI is making greater lows, which is a bullish indication, and is presently hovering simply above 50 points– the neutral level.

MACD: The everyday MACD is bullish and is directing, in spite of the rejection at crucial resistance lastTuesday This is an appealing indication for bulls.

Chart by Trading View


The predisposition on DOT is rather bullish, however a break of the important resistance is required to verify this.

Short-Term Prediction for DOT Price

DOT handled to combine and stop the drop under the crucial resistance at $32. Now, purchasers appear excited to take DOT back up once again as they prepare the phase to break the crucial resistance. Should they stop working, DOT will deal with the ‘floor’ level at $25. Watch out for possible volatility to return next week following the brand-new year vacation.

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