Polkadot

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/dot-price-analysis-steady-retest-in-dot-eyes-6-upon-success/">DOT Price Analysis: Steady Retest In DOT Eyes $6 Upon Success!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Despite the triangle pattern breakout, the DOT price reclaimed bullish momentum as the overall market started bouncing back. Forming a double bottom reversal from the $3.56 mark, Polkadot price overcomes multiple bearish spots.&nbsp;
Rising above the crucial 50-day EMA, the uptrend gains momentum and reclaims the $4 mark, reflecting solid demand for Polkadot. With the sudden increase in demand, the <a href="https://coinpedia.org/price-prediction/polkadot-price-prediction/" rel="noopener noreferrer nofollow">Polkadot price prediction</a> teases a bullish conclusion for 2023.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-1024x481.png" alt="" class="wp-image-240846" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/31115018/DOTUSD_2023-10-31_10-45-04.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
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The reversal rally in the DOT price trend bounces above the short-coming resistance trendline to surpass the dynamic resistance of the 50-day EMA. Moreover, the rising trend momentum helps Polkadot rise above the triangle pattern.&nbsp;
Concluding the long-term trend of lower high formations, the DOT price retests the bullish breakout of the descending triangle. Further, the price action displays a potential rounding bottom breakout with a neckline at $4.70.
Currently, the DOT price trades at $4.52 as it forms a Doji candle to retest the broken trendline. Moreover, the uptrend approaches the 200-day EMA as it bounced by 24% in the last two weeks.&nbsp;
Technical Indicators:
MACD indicator: The MACD and signal lines reflect a positive trend with a rising motion in bullish histograms. Therefore, the momentum indicator supports the buyers’ side and hints at an uptrend continuation.
EMA: The rising 50-day EMA teases a bullish crossover with the 200-day EMA to reclaim positive alignment. Further, the rising trend in DOT price increases the chances of a golden crossover.&nbsp;
<h2 class="wp-block-heading" id="h-will-dot-price-reach-6">Will DOT Price Reach $6?</h2>
With the high-speed short phase of recovery earlier the past two weeks, the DOT price reclaims the $4.50 mark. With the triangle breakout and reclaiming crucial levels, the chances of a $4.70 breakout increase.&nbsp;
If the rounding bottom reversal occurs, the altcoin price may shoot higher to $6, provided it exceeds the $5.57 supply zone. On the flip side, a reversal will challenge the 50-day EMA and may hit the $4 mark.

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DOT Price Analysis: Steady Retest In DOT Eyes $6 Upon Success!

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