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Polkadot

Resistance

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<p>Polkadot’s (DOT) price trajectory has comprised noticeable shifts in the current crypto market. Various experts, including The Cryptomist and Planfomo, have shared their insights. Moreover, they predict potential bullish trends against a backdrop of significant resistance levels.</p>
<h2 class="wp-block-heading" id="strong-expert-insights-and-predictive-dot-analysis-strong"><strong>Expert Insights and Predictive DOT Analysis&nbsp;</strong></h2>
<p>The Cryptomist shared their <a href="https://x.com/Thecryptomist/status/1805946568098406531" target="_blank" rel="noopener noreferrer nofollow">insights on Polkadot (DOT)</a>, highlighting profits from an earlier post. They mentioned taking precautions by securing profits while waiting for a 4-hour bullish divergence on Bitcoin. According to them, Polkadot is primed for significant movement once Bitcoin stabilizes or finds its bottom.</p>
<figure class="wp-block-image is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdxEFppul7nP5J04Mb08mAH9u__oI-F9BR7DmJjI4qdgU54DuqjLQrrubHV8-ZkRyzG27cQOYJHzmdoSOzQdhO4kHAZxVqWWfvf2F-3hLY6DSU7e0IdrLYM7OHimf4Ie-iNh_uqTv-Xhzoy58uzP8ZdJeWu?key=TYTL1S9yd-rg87SkAYRMnQ" alt="" style="width: 100%;height:auto">
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<p>Analyst Planfomo <a href="https://x.com/planfomo/status/1806045147789926855" target="_blank" rel="noopener noreferrer nofollow">also provided analysis on Polkadot</a>, noting that it has been overlooked. They observed that DOT found some support and formed a potential falling wedge pattern on the daily timeframe. They believe a breakout could lead to a full send, emphasizing the importance of this technical formation.</p>
<p>Both analysts agree on key resistance levels for Polkadot. The Cryptomist plans to add more if resistance is broken. Additionally, Planfomo identified resistance zones between $6.5-$7.0 and $8.5-$9.4. Overcoming these zones is crucial for Polkadot to change its market structure and regain momentum.</p>
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<h2 class="wp-block-heading" id="strong-polkadot-price-analysis-strong"><strong>Polkadot Price Analysis</strong></h2>
<p>An analysis Polkadot’s (DOT) price chart on TradingView showed signs of market indecision at the time writing. The daily chart reveals a small body with long wicks, indicating a balance between buyers and sellers.&nbsp;</p>
<p>However, the overall trend remains bearish, with the price below the 200-day Exponential Moving Average and the weekly Simple Moving Average sloping downward.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc38YexTwpB6hbyvqGNHCniNXkVyRXJlToKWEJi6ceW-C7-q5dKEa0NiGBjhsp1e09ER_lseaTELrTgKc_NDmZrC0HCEi5wBRNR8xycVpNjCl9yJNPvdgZipLnqkDTVxl5d7IZ_42uU_b75MhB3t4jnTbeI?key=TYTL1S9yd-rg87SkAYRMnQ" alt="">
 <figcaption class="wp-element-caption"><strong><em>DOT daily price chart Source: </em></strong><a href="https://www.tradingview.com/x/1lPfsDJh" target="_blank" rel="noopener noreferrer nofollow"><strong><em>TradingView</em></strong></a>
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<p>DOT’s indicators suggest a potential short-term upward movement despite the bearish trend. The RSI at 38.47 nears oversold territory, hinting at a possible bounce soon. The MACD’s bullish crossover could signal a buying opportunity. Support at 5.364 and resistance at 5.741 and 6.057 are crucial levels to watch.</p>
<p>The 200-day EMA at 7.047 emphasizes DOT’s ongoing downtrend. Bollinger Bands show DOT’s price near the lower band, indicating it might be oversold. Volume analysis reveals weakening selling pressure with a trading volume of 785.974K. This aligns with the possibility of a short-term reversal.</p>
<p>Moreover, Bollinger Bands further illustrate market sentiment with the upper band at 6.750, middle at 6.057, and lower at 5.364. DOT touching the lower band suggests a potential bounce. Besides, volume analysis supports this as it shows weakening selling pressure. These indicators collectively point to a possible upward movement soon.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/massive-bitcoin-mining-firm-reveals-its-mining-kaspa-kas-price-surges/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Massive Bitcoin Mining Firm Reveals Its Mining Kaspa: KAS Price Surges</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-key-levels-to-watch-strong"><strong>Key Levels to Watch</strong></h2>
<p>Support and resistance levels play a crucial role in DOT’s price action. The lower Bollinger Band around 5.364 serves as a critical support level for the token. Resistance is encountered near the weekly SMA at 5.741 and the middle Bollinger Band at 6.057.</p>
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<p>The post <a href="https://captainaltcoin.com/polkadot-price-prediction-dot-must-overcome-this-resistance-to-flip-bullish-as-analysts-eye-decisive-breakout/" rel="noopener noreferrer nofollow">Polkadot Price Prediction: DOT Must Overcome This Resistance to Flip Bullish as Analysts Eye Decisive Breakout</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Polkadot Price Prediction: DOT Must Overcome This Resistance to Flip Bullish as Analysts Eye Decisive Breakout

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