{"id":3033,"date":"2024-09-03T05:08:32","date_gmt":"2024-09-03T05:08:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3033"},"modified":"2024-09-03T05:08:32","modified_gmt":"2024-09-03T05:08:32","slug":"polkadot-price-lags-can-dot-establish-a-base-for-recovery","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3033","title":{"rendered":"Polkadot Price Lags: Can DOT Establish a Base for Recovery?"},"content":{"rendered":"

Polkadot (DOT) is struggling below $5.00 against the US Dollar. The price must settle above the $4.35 and $4.50 resistance levels to start a decent increase.<\/em><\/p>\n

DOT declined steadily below the $5.50 and $5.00 levels against the US Dollar.
\nThe price is trading below the $5.00 zone and the 100-hourly simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $4.18 on the hourly chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could start a decent upward move if it settles above $4.35 and then $4.50.<\/p>\n

Polkadot Price Remains In The Red Zone<\/h2>\n

In the past few weeks, DOT price saw a steady decline from well above $6.50. Bitcoin<\/a> and Ethereum<\/a> were stable, but Polkadot remained in the red zone. There was a close below the $5.00 level.<\/p>\n

Finally, the price tested the $4.00 zone. A low was formed at $4.03 and the price recently started a recovery wave. There was a move above the $4.10 and $4.15 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $4.65 swing high to the $4.03 low.<\/p>\n

There was also a break above a connecting bearish trend line with resistance at $4.18 on the hourly chart of the DOT\/USD pair. DOT is now trading below the $4.50 zone and the 100 simple moving average (4 hours).<\/p>\n

<\/a><\/p>\n

Immediate resistance is near the $4.30 level. The next major resistance is near $4.35 or the 50% Fib retracement level of the downward move from the $4.65 swing high to the $4.03 low. A successful break above $4.35 could start another strong rally. In the stated case, the price could easily rally toward $4.50 in the near term. The next major resistance is seen near the $5.00 zone.<\/p>\n

Another Decline in DOT?<\/h2>\n

If DOT price fails to start a fresh increase above $4.35, it could start another decline. The first key support is near the $4.15 level.<\/p>\n

The next major support is near the $4.10, below which the price might decline to $4.00. Any more losses may perhaps open the doors for a move toward the $3.85 support zone or $3.60.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for DOT\/USD is now gaining momentum in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for DOT\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $4.15 and $4.00.<\/p>\n

Major Resistance Levels \u2013 $4.35 and $4.50.<\/p>","protected":false},"excerpt":{"rendered":"

Polkadot (DOT) is struggling below $5.00 against the US Dollar. The price must settle above the $4.35 and $4.50 resistance levels to start a decent increase. DOT declined steadily below the $5.50 and $5.00 levels against the US Dollar. The price is trading below the $5.00 zone and the 100-hourly simple moving average. There was […]<\/p>\n","protected":false},"author":0,"featured_media":3034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3033"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3033"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3034"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}