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

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

Polkadot Price Regains Strength

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

Polkadot cleared the 100 easy shifting common (4 hours) and examined the $5.60 resistance. A excessive is fashioned close to $5.58 and the worth is now consolidating good points. It is up almost 5% and exhibits indicators of extra good points within the coming classes.

DOT value is now buying and selling above the $5.30 zone and the 100 easy shifting common (4 hours). Immediate resistance is close to the $5.55 degree. There can also be a key bearish pattern line forming with resistance close to $5.55 on the 4-hour chart of the DOT/USD pair.

Source: DOTUSD on TradingView.com

The subsequent main resistance is close to $5.60. A profitable break above $5.60 might begin one other robust rally. In the said case, the worth 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 value fails to proceed increased above $5.55 or $5.60, it might begin a draw back correction. The first key assist is close to the $5.35 degree.

The subsequent main assist is close to the $5.30 degree or the 61.8% Fib retracement degree of the upward transfer from the $5.11 swing low to the $5.58 excessive, beneath which the worth would possibly 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 Strength Index) – The RSI for DOT/USD is now above the 50 degree.

Major Support Levels – $5.30, $5.10 and $5.00.

Major Resistance Levels – $5.55, $5.60, and $6.00.