Polkadot

<ul>
 <li><em>DOT had a strongly bullish outlook after climbing past significant resistance levels.</em></li>
 <li><em>The 2022 downtrend’s lower highs could serve as resistance on the way up.</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/polkadot" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polkadot [DOT]</a> continued its bullish run after a dip to $7.57 on the 23rd of December. Earlier, AMBCrypto had <a href="https://ambcrypto.com/polkadot-price-sets-a-new-high-for-2023-time-to-alter-predictions/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a> that the $7.1-$7.9 was a strong demand zone for DOT from a higher timeframe perspective.</p>
<p>Polkadot also saw a surge in <a href="https://ambcrypto.com/polkadot-what-a-surge-in-network-activity-means-for-dot-prices/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">network activity</a> on the 21st of December. This saw a major boost to its blockchain revenues as well, heralding good news for investors.</p>
<h4>The breaker block served as a demand zone</h4>
<div id="attachment_360386" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360386" decoding="async" class="size-full wp-image-360386" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price.png" alt="Polkadot continues on bullish path as projected" width="1940" height="976" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price-300x151.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price-1024x515.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price-768x386.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-price-1536x773.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-360386" class="wp-caption-text">Source: DOT/USDT on TradingView</p>
</div>
<p>AMBCrypto’s technical analysis of DOT on the one-day chart showed a firmly bullish bias. The $7.1-$7.9 region was a strong zone of resistance based on the three-day chart. It was also the previous high for 2023.</p>
<p>Over the past two weeks, the bulls built up enough pressure to drive prices past the $7.9 mark. They followed this up with a retest of $7.57 and another push higher. DOT was trading at $8.913 at press time and climbing fast.</p>
<p>The RSI was at 71.49 and signaled hefty bullish momentum. The swift move past the $8.58 mark that had acted as resistance on the 22nd of December was another sign of bullish intent. The OBV also climbed higher, denoting steady buying volume.</p>
<h4>The Futures market reflected confidence in DOT</h4>
<div id="attachment_360385" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360385" decoding="async" class="size-full wp-image-360385" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze.png" alt="Polkadot continues on bullish path as projected" width="1908" height="1042" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze.png 1908w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze-300x164.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze-1024x559.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze-768x419.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-DOT-coinalyze-1536x839.png 1536w" sizes="(max-width: 1908px) 100vw, 1908px"></a>
 <p id="caption-attachment-360385" class="wp-caption-text">Source: <a href="https://coinalyze.net/polkadot/open-interest/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Coinalyze</a></p>
</div>
<p>From the 16th to the 20th of December, the Open Interest chart stumbled lower alongside prices. DOT dropped from $7.26, the D3 resistance zone back then, to reach $6.5. Thereafter, the bulls fought back.</p>
<p>Both the price and the OI began to rise rapidly, capturing the intense bullish belief among speculators.</p>
<p style="text-align: center;">Is your portfolio green? Check out the <a href="https://ambcrypto.com/calculator/polkadot-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">DOT Profit Calculator</a></p>
<p>The spot CVD has also been in an uptrend since the 17th of December. This meant that despite lower timeframe price dips, the spot market participants continued to buy DOT.</p>
<p>The CVD continued to climb higher, meaning that buying pressure was high, and DOT prices are likely to push toward the next resistance level at $9.65.</p>
<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>

Polkadot price crosses $9, when will the $10 prediction come true?

AMBCrypto

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