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Polkadot

The post <a href="https://coinpedia.org/price-analysis/polkadot-tests-supply-at-5-50-as-dot-price-jumps-48-in-30-days/" rel="noopener noreferrer nofollow">Polkadot Tests Supply At $5.50 As DOT Price Jumps 48% in 30 Days!&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Making a sharp comeback in late October, the Uptober spirit pumps the DOT price from the bottom support of $3.56. Following the Uptober bull run, Polkadot sustains the breakout momentum and surpasses the $5 mark.&nbsp;
Polkadot is on a bull run with an astonishing recovery rally, surpassing the 200D EMA and regaining the psychological mark of $5. With the overall recovery in the altcoins market, the <a href="https://coinpedia.org/price-prediction/polkadot-price-prediction/" rel="noopener noreferrer nofollow">Polkadot price prediction</a> teases a high note ending for 2023.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="480" src="https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-1024x480.png" alt="" class="wp-image-246070" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-1024x480.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-768x360.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-1536x720.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/17153055/DOTUSD_2023-11-17_14-37-59.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source- <a href="https://www.tradingview.com/x/94de05ro/" rel="noopener noreferrer nofollow">Tradingview</a>
The DOT price trend highlights a sharp V-shaped reversal from the 52W low at the $3.56 mark, resulting in a huge recovery. Further, the uptrend surpasses the 200D EMA with a spark in the intraday trading volume, indicating strong bullish support.&nbsp;
With the overall market recovery being the key catalyst behind the Polkadot rally, the DOT prices are sustaining momentum. Moreover, the uptrend challenges the overhead supply zone at the $5.50 mark.&nbsp;
With the recovery rally concluding the downtrend, the DOT price currently trades at $5.39 as the buyers struggle to surpass $5.50. Moreover, the overnight pullback of 3.95% forms a bearish candle with a long wick as Bitcoin steps back to the $36K mark, leading to a $307Million Liquidation.&nbsp;
Technical Indicators:
RSI indicator: The daily RSI line continues to wobble near the overbought boundary but sustains the uptrend momentum. Therefore, the momentum indicator supports the $5.50 breakout thesis.&nbsp;
EMA: The rising 50-day EMA teases a bullish crossover with the 200-day EMA to reclaim positive alignment.
<h2 class="wp-block-heading" id="h-will-the-dot-price-surpass-5-50">Will The DOT Price Surpass $5.50?</h2>
With the ongoing recovery rally taking a short pause, the buyers are doubtful about a prolonged uptrend. However, the altcoins will surely regain their previous highs with the market-wide recovery and the growing anticipations around the ETF approval.&nbsp;
If the DOT price overcomes the $5.50 supply zone, the altcoin price may shoot higher to $6. On the opposite end, a downtrend will challenge the 200D EMA to the $4.88 mark.

Polkadot Tests Supply At $5.50 As DOT Price Jumps 48% in 30 Days!

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