Polkadot Price Analysis – April 18
As the coin grows to the upside, the price of Polkadot is seen moving consistently within the channel for the past few days.
Resistance levels: $22, $24, $26
Support levels: $14, $12, $10
According to the daily chart, DOT/USD is trying to cross above the 9-day moving average. In the last few days, the Polkadot price continues to trade near the 9-day and 21-day moving averages. However, the technical indicator Relative Strength Index (14) is hovering above 40-level, confirming the bullish movement in the market.
Polkadot Price Analysis: Is the DOT Price Ready for the Upside?
As the daily chart reveals, the Polkadot price is currently moving towards the 9-day moving average, and if the coin continues to maintain its bullish trend, the bulls may reach the resistance levels of $22, $24, and $26 above the upper boundary of the channel. At the time of writing, DOT/USD shows a slight bullish movement within the daily chart.
On the contrary, any bearish movement below the moving averages could return the coin to the support levels of $14, $12, and $10 respectively. Meanwhile, the long-term buyers should not be bothered by the small impact on the road, as the future of DOT is assured as revealed by the technical indicator Relative Strength Index (14).
DOT/BTC Market: Price Moves to the Downside
Against Bitcoin, the Polkadot price is hovering below the 9-day and 21-day moving averages with bearish candles. The technical indicator Relative Strength index (14) is likely to cross below the 40-level which may soon increase the bearish movement. On the contrary, a possible rise may surface once the technical indicator turns and faces upward, and it may likely hit the resistance level of 5000 SAT and above.
Meanwhile, any further bearish movement towards the south could bring the coin to the support level of 4000 SAT and below. However, breaking to the upside could take the coin to a new high and the market may remain in the bullish zone for a while.