The Polkadot (DOT) crypto has shown a spectacular run from the $4.5 base to the $11.8 roof, where it failed to break it and ended up in a contracted wedge. The deterioration in the wedge led the price to fall to resistance turned support level of $5.50.
Thereon, the DOT crypto has revealed a sign of recovery and shows the urge to rally out from the wedge from a crucial support level of around $5.50 on the daily chart.
The DOT crypto looks set for a gigantic surge on the daily chart as it gears up and seems more than ready to crack the resistance trendline and propel to new peaks from the current support zone.
The Polkadot asset has exhibited bullish strength this week by surging 12.94%, and on intraday, it surged 1.16%. Also, the price shows rising capacity as it approaches major 50-day, and 200-day EMA's.
meanwhile, the DOT asset technical indicators are displaying bullish behavior, as MACD shows a bullish cross beneath the zero line, which signifies buyers' strengthening. The RSI flashed at 52.30, which recovered from 30 and headed for the 70 level, which highlights that DOT could extend its gains.
The DOT crypto has traded at $6.361, with a massive 60.87% surge in 24-hours volume at $256.218 Million. If the demand for the DOT remains high, the asset price could propel higher, breaking the upper boundary of the wedge from the current level. The next resistance for the price could be to reach $7.8, and $9.5.
However, if the Polkadot (DOT) crypto price fails to stay above the $5.5 level, it could decline further toward $5 and $4.
Thereon, the DOT crypto has revealed a sign of recovery and shows the urge to rally out from the wedge from a crucial support level of around $5.50 on the daily chart.
The DOT crypto looks set for a gigantic surge on the daily chart as it gears up and seems more than ready to crack the resistance trendline and propel to new peaks from the current support zone.
The Polkadot asset has exhibited bullish strength this week by surging 12.94%, and on intraday, it surged 1.16%. Also, the price shows rising capacity as it approaches major 50-day, and 200-day EMA's.
meanwhile, the DOT asset technical indicators are displaying bullish behavior, as MACD shows a bullish cross beneath the zero line, which signifies buyers' strengthening. The RSI flashed at 52.30, which recovered from 30 and headed for the 70 level, which highlights that DOT could extend its gains.
The DOT crypto has traded at $6.361, with a massive 60.87% surge in 24-hours volume at $256.218 Million. If the demand for the DOT remains high, the asset price could propel higher, breaking the upper boundary of the wedge from the current level. The next resistance for the price could be to reach $7.8, and $9.5.
However, if the Polkadot (DOT) crypto price fails to stay above the $5.5 level, it could decline further toward $5 and $4.