Bitcoin

Polkadot

Resistance

Polkadot (DOT) is gaining pace above the $4.50 resistance against the US Dollar. The price could surge toward $5.5 if it clears the $4.80 resistance. 
<ul> 
 <li>DOT is slowly moving higher above the $4.50 resistance zone against the US Dollar.</li> 
 <li>The price is trading above the $4.60 zone and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bullish momentum if there is a close above $4.80 and $4.85.</li> 
</ul> 
<h2 id="polkadot-price-regains-strength">Polkadot Price Regains Strength</h2> 
After forming a base above the $4.00 handle, DOT price started a decent increase. The price was able to clear the key barrier at $4.20 to enter a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-resumes-rally-37k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-bulls-keeps-pushing-2000/" target="_blank" rel="noopener ">Ethereum</a>. 
Polkadot cleared the $4.50 resistance zone and the 100 simple moving average (4 hours). It traded to a new multi-week high at $4.803 and is now consolidating gains. It is well above the 23.6% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high. 
DOT price is now trading above the $4.60 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $4.046 swing low to the $4.803 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-558718" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468" alt="DOT Price (Polkadot) " width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Polkadot-DOT.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/DOTUSD/" target="_blank" rel="noopener nofollow">DOTUSD on TradingView.com</a> 
Immediate resistance is near the $4.80 level. The next major resistance is near $4.85. A successful break above $4.85 could start another strong rally. In the stated case, the price could easily rally toward $5.20 in the coming days. The next major resistance is seen near the $5.50 zone. 
<h2 id="are-dips-supported-in-dot">Are Dips Supported in DOT?</h2> 
If DOT price fails to continue higher above $4.80 or $4.85, it could start a downside correction. The first key support is near the $4.62 level. 
The next major support is near the $4.50 level and the trend line, below which the price might decline to $4.35. Any more losses may perhaps open the doors for a move toward the $4.20 support zone. 
Technical Indicators 
4-Hours MACD – The MACD for DOT/USD is now gaining momentum in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now above the 50 level. 
Major Support Levels – $4.62, $4.50 and $4.20. 
Major Resistance Levels – $4.80, $4.85, and $5.50.

DOT Price (Polkadot) Surge to $5.5 – Are Bulls Ready For This?

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