Charted: Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5

Charted: Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5
HeadlinesNewsCharted: Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5

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Charted: Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5

NewsBTC1 week ago
Published on January 14, 2021 07:08 GMT+0edited on January 14, 2021 07:16 GMT+0

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Polkadot’s DOT started a strong surge after it broke the $10.00 resistance against the US Dollar. It is up over 35% this week, and it outperformed bitcoin.

  • DOT gained pace above the $9.50 and $10.00 resistance levels against the US dollar.
  • The price traded to a new yearly high at $11.60 and settled well above the 100 simple moving average (4-hours).
  • There was a break above a key bearish trend line with resistance near $9.35 on the 4-hours chart of the DOT/USD pair (data source from Kraken).
  • The pair could correct lower, but the previous resistance at $10.50 might provide support.

Polkadot’s DOT Rallies Above $11

After testing the $7.20 zone, DOT started a fresh increase above the $8.50 resistance level. The bulls gained strength, resulting in a solid push above the $9.00 …