Polkadot Price Analysis – November 24
The Polkadot (DOT) price may find a halt at $35 as the price is down by 4.27% over the last 24 hours.
DOT/USD Market
Key Levels:
Resistance levels: $48, $50, $52
Support levels: $32, $30, $28
DOT/USD price may continue to drop further lower if the coin finds support at the $35 level. However, the yesterday’s trading revealed that DOT/USD tried to cross above the 9-day moving average to hit the resistance level of $41 before falling back below $40 level. At the moment, if the bears continue to push the market further lower, the immediate support below the $35 level may be located. Beneath this, further supports may be found at $32, $30, and $28 respectively.
Polkadot Price Analysis: DOT Price May Remain at the Downside
As the daily chart reveals, if the buyers can hold the support at $39 and the price begins to climb higher, bulls may expect immediate resistance to be located at $45 which is above the 9-day moving average. However, moving a little bit higher may locate the higher resistance levels at $48, $50, and $52. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving below 45-level, which shows that the market may either go sideways or follow the bearish movement.
DOT/BTC Market: Price Keeps Moving Sideways
Against Bitcoin, the Polkadot is trading below the 9-day and 21-day moving averages. Therefore, in as much as the price actions remain below this barrier, Polkadot may perpetually be under the control of bear. Meanwhile, traders need more strong and consistent resistance to keep the price from the bear-run for the DOT market.
However, with the current movement in the daily chart, if the price continues to move above the 9-day and 21-day moving averages, it may likely reach the potential resistance level at 7500 SAT and above. On the contrary, if the market price slides below the lower boundary of the channel, it may likely hit the critical support at 6300 SAT and below as the technical indicator Relative Strength Index (14) remains at the downside.
