- Polkadot token over the monthly chart is trading above all DMA lines and following the rounding bottom pattern.
- Presently, the digital asset is trading positively and trying to sustain above the short to medium term moving averages of 20 and 50-Day lines, but volume activity is lower.
- The pair of DOT/BTC is trading at 0.0006359 BTC with an intraday gain of +11.44%, and the ratio of DOT/ETH is CMP at 0.01009 ETH with intraday gains of +6.92%.
Polkadot token over the monthly chart is trading under the rounding bottom pattern after a sharp rally from the lower levels. The crypto asset is trading above its vital moving averages of 20, 50, 100, and 200-days lines. Meanwhile, the Volume over the monthly chart is recorded lower and gradually heading lower, which needs to grow strongly. The sustainability above all DMA lines, with supportive volume activity, will boost more buyers in upcoming trading sessions.
Once the coin gives breakout from the rounding bottom pattern, it will push more buyers in forthcoming sessions. In contrast, the closing of DOT token price above $39.00 with solid volume activity will confirm a positive breakout. Support on the lower side is $29.20 and $26.00, whereas resistance on the higher side is $39.00 and $42.52.
Polkadot token at the weekly chart is projecting bullish momentum while trading under the rising channel pattern. Meanwhile, the volume activity over the chart increases and jumps above its average volume line. The technical parameters are also in favor of bulls, as heading towards the higher levels. DOT is trading at $34.79 with an intraday gain of +6.70%, and the Volume to market cap ratio is 0.05739.
Relative Strength Index (BULLISH): Polkadot token RSI is again moving towards the higher levels after correcting from the higher side. The coin is trading on a positive note with good volume activity and RSI at 54.
Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line overlaps.
Support levels: $29.20 and $26.00
Resistance levels: $39.00 and $42.52.