DOT Price (Polkadot) Spikes 5% and Primed To Surge Toward $6

Polkadot (DOT) is gaining tempo above the $5.25 resistance towards the US Greenback. The worth might surge additional towards the $5.85 and $6.00 ranges.

• DOT is gaining tempo above the $5.25 resistance zone towards the US Greenback.
• The worth is buying and selling above the $5.30 zone and the 100 easy transferring common (4 hours).
• There’s a key bearish development line forming with resistance close to $5.55 on the 4-hour chart of the DOT/USD pair (information supply from Kraken).
• The pair might achieve bullish momentum if there’s a shut above $5.55 and $5.60.

Polkadot Value Regains Energy

After consolidating above the $5.00 assist, DOT worth began a good improve. The worth was capable of clear the $5.20 and $5.25 resistance ranges to maneuver right into a optimistic zone, like Bitcoin and Ethereum.

Polkadot cleared the 100 easy transferring common (4 hours) and examined the $5.60 resistance. A excessive is fashioned close to $5.58 and the value is now consolidating positive factors. It’s up almost 5% and exhibits indicators of extra positive factors within the coming periods.

DOT worth is now buying and selling above the $5.30 zone and the 100 easy transferring common (4 hours). Speedy resistance is close to the $5.55 stage. There’s additionally a key bearish development line forming with resistance close to $5.55 on the 4-hour chart of the DOT/USD pair.

Supply: DOTUSD on TradingView.com

The subsequent main resistance is close to $5.60. A profitable break above $5.60 might begin one other sturdy rally. Within the said case, the value might simply rally towards $5.85 within the close to time period. The subsequent main resistance is seen close to the $6.00 zone.

Are Dips Supported in DOT?

If DOT worth fails to proceed larger above $5.55 or $5.60, it might begin a draw back correction. The primary key assist is close to the $5.35 stage.

The subsequent main assist is close to the $5.30 stage or the 61.8% Fib retracement stage of the upward transfer from the $5.11 swing low to the $5.58 excessive, under which the value may decline to $5.10. Any extra losses could maybe open the doorways for a transfer towards the $5.00 assist zone.

Technical Indicators

4-Hours MACD – The MACD for DOT/USD is now gaining momentum within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for DOT/USD is now above the 50 stage.

Main Assist Ranges – $5.30, $5.10 and $5.00.

Main Resistance Ranges – $5.55, $5.60, and $6.00.