DOT Price Analysis – April 3
The Polkadot price may not be stopped as the bulls aim to push the coin above the channel to hit the resistance level of $25.
DOT/USD Market
Key Levels:
Resistance levels: $26, $27, $28
Support levels: $20, $19, $18
DOT/USD price is now trading close to $25 as it hovers around the $23 resistance level at the time of writing. The Polkadot (DOT) may continue to move upwards if the price crosses above the upper boundary of the channel. Meanwhile, DOT/USD may touch the resistance level of $25 if the bulls focus on the upward trend.
Polkadot Price Analysis: What to Expect from DOT/USD
The Polkadot price may remain on the positive side of the 9-day moving average and remains above the 21-day moving average. Therefore, the technical indicator Relative Strength Index (14) is seen moving towards the overbought region, therefore, there is a higher chance that the coin may likely find the potential resistance levels at $26, $27, and $28. In other words, any bearish movement below the 9-day and 21-day moving averages may locate the critical supports at $20, $19, and $18 respectively.
DOT/BTC Market: Price Remains above the Moving Averages
Against Bitcoin, DOT price has been following the downtrend, the coin is currently hovering above the 9-day and 21-day moving averages. The nearest resistance level may surface above the upper boundary of the channel at 5200 SAT and may then locate a potential resistance level at 5500 SAT and above if the buying pressure becomes huge.
Meanwhile, on the downside, the Polkadot pair could face support at 4700 SAT. Below the 9-day and 21-day moving averages lies the major support at 4500 SAT and below. However, the cryptocurrency may begin to follow the sideways movement as the technical indicator Relative Strength Index (14) moves in the same direction above the 60-level. Therefore, if the signal line breaks below this level, traders can expect bearish pressure below the moving averages.
