Ethereum

Rally

Bitcoin

Polkadot

Resistance

Polkadot (DOT) is gaining pace above the $10.00 resistance against the US Dollar. The price could extend its rally toward the $12.00 level in the near term. 
<ul> 
 <li>DOT is gaining pace above the $9.80 and $10.00 levels against the US Dollar.</li> 
 <li>The price is trading above the $10.00 zone and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $9.10 on the 4-hour chart of the DOT/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rise toward the $12 resistance zone.</li> 
</ul> 
<h2 id="polkadot-price-resumes-rally">Polkadot Price Resumes Rally</h2> 
After forming a base above the $8.00 level, DOT price started a fresh rally. It gained over 20% in a few days and even outperformed <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-consolidates-4k/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-at-risk-68k/" target="_blank" rel="noopener ">Bitcoin</a> at times. 
There was a clear move above the $9.50 and $10.00 resistance levels. The price traded to a new multi-month high at $11.00 and is currently consolidating gains. There was a minor pullback below the $10.75 level. The price is still above the 23.6% Fib retracement level of the upward move from the $8.26 swing low to the $11.00 high. 
DOT is now trading well above the $10.00 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $9.10 on the 4-hour chart of the DOT/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $8.26 swing low to the $11.00 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-596660" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461" alt="DOT Price (Polkadot)" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Polkadot-DOT_03f6d8.png?resize=1024%2C461?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 $10.75 level. The next major resistance is near $11.00. A successful break above $11.00 could start another strong rally. In the stated case, the price could easily rally toward $12.00 in the near term. The next major resistance is seen near the $13.50 zone. 
<h2 id="are-dips-supported-in-dot">Are Dips Supported in DOT?</h2> 
If DOT price fails to start a fresh increase above $11.00, it could start a downside correction. The first key support is near the $10.35 level. 
The next major support is near the $10.00 level, below which the price might decline to $9.50. Any more losses may perhaps open the doors for a move toward the $9.20 support zone or the trend line. 
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 – $10.35, $10.00 and $9.50. 
Major Resistance Levels – $10.75, $11.00, and $12.00.

DOT Price (Polkadot) Jumps 10%, Why Bulls Can Pump It To $12

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