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The worth of Polkadot (DOT) reveals power after bouncing from key help on the weekly chart in opposition to Tether (USDT).

After Bitcoin (BTC) bounced from its month-to-month low of $19,000, this signaled a aid for different crypto altcoins together with the worth of Polkadot. (Data feeds from Binance)

Price Analysis Of Polkadot On The Weekly (1W) Chart

From the chart, the worth of DOT noticed a weekly low of round $6.50, the place it has shaped help.
The worth has constructed extra momentum because it faces resistance at $10.
A break above the $10 mark, the worth of DOT would rally to $12.
If the worth of DOT on the weekly chart fails to interrupt the $10 mark, then a retest is certain at $8.62.
The weekly relative power index for DOT worth is 36, indicating extra purchase bids after bottoming out on the weekly low.
The quantity reveals respectable purchase bids, which can push the worth of DOT larger.

Weekly resistance for DOT worth – $10.
Weekly help for DOT worth – $6.50.

Price Analysis Of Polkadot On The Daily (1D) Chart

The worth of DOT discovered sturdy help at round $6.50, with what appears to be the underside on the day by day chart.

DOT has continued to rally above this help area of $6.50 to a excessive of $9, the place it has confronted resistance.
DOT’s worth is at $8.40 on the level of writing; it’s buying and selling above the 50 & 200 exponential transferring averages (EMA)

The 50 & 200 EMA with costs of $8.20 and $8 would act as help respectively for DOT worth in case it drops as a result of weekend sell-offs.

If the 50 & 200 EMA area fails to carry the worth, $7.92 can be a great help to carry sell-offs and a attainable bounce of DOT worth.

With extra purchase bids, we might see the worth of DOT retesting at $9.18, which has been resistance on the day by day chart.

RSI for DOT worth on the day by day chart is above 60, indicating wholesome purchase bids for DOT.
Volume on the day by day timeframe signifies constructive indicators for DOT costs to development larger.

Daily (1D) resistance for DOT worth – $9.18, $10.
Daily (1D) help for DOT worth – $7.92, $7.55, $7.20.

Price Analysis Of Polkadot On The Four Hourly (4H) Chart

DOT has proven nice power on the 4H chart after bouncing off from its help.

After rejection within the worth of DOT at $9.10, the worth dropped to the 50 EMA mark at $7.95 which has shaped good help in case of a sell-off in DOT worth.

DOT  is buying and selling at $8.47 above the 50 & 200 EMA on the 4H chart, haven rallied from a low of $6.50.

The worth has shaped a trendline appearing as a resistance for DOT worth, this may be invalidated provided that the worth breaks beneath the trendline.

Four Hourly (4H) resistance for DOT worth – $9.10, $10.

Four hourly (4h) help for DOT worth – $7.95, $7.67

Featured picture from zipmex, Charts from TradingView.com