- Polkadot (DOT) coin is moving close to the resistance level of $5.25 in its 3-hour technical chart. 3-hour candlestick closures above $5.25 can sustain its rise towards the resistance zone of $5.38.
- However, if the DOT price makes a permanent closure below the level of $5.25, it can extend its decline towards the support level of $5.09.
- According to Coinotag analysts, if the DOT price makes 3-hour closures below the level of $5.09, it can continue its downward trend towards the levels of $4.96. However, strong buying reactions in the range of $4.80 – $4.55 can redirect the upward trend towards the level of $5.65.
When examining the technical chart of Polkadot (DOT) coin, it can be seen that the price is moving close to the resistance level of $5.25 and the closures above this level support the upward trend. However, closures below $5.25 indicate the potential strengthening of the downward movement.
Medium-Term DOT Price Analysis
Daily DOT/USD Price ChartWhen examining the technical chart of Polkadot (DOT) coin in the daily time frame, it can be seen that the price is moving close to the levels of $4.95. In order for DOT to continue its upward trend, it needs to make daily closures above the level of $5.55. If the DOT price fails to close above the $5.55 resistance level on a daily basis, there is a possibility of continuing the downward movement.
Coinotag analysts expect DOT price to experience a decline towards the support level of $4.95 in the coming days. This situation can offer investment potentials for DOT coin.
If the DOT price makes daily closures below the mentioned level of $4.95, it can extend its downward movement to the range of $4.80 – $4.55. Especially for long-term spot investors, the range of $4.80 – $4.55 appears more attractive. If the DOT price makes daily closures below the level of $4.55 in the coming days, it can continue its decline to this critical support range.
However, if the DOT price encounters strong buying reactions at the levels of $4.80 – $4.55, it can target the level of $5.55 first and then the levels of $6.69, starting the upward trend from this range. Polkadot coin investors should carefully monitor the support range of $4.80 – $4.55 and reconsider their investments in case of closures below the level of $4.55.
Short-Term DOT Price Analysis
When examining the 3-hour technical chart of Polkadot (DOT) coin, it can be seen that the price is moving close to the nearest resistance level of $5.25. If the DOT price makes 3-hour candlestick closures above the level of $5.25, it has the potential to sustain its rise towards the mentioned resistance zone of $5.38.
However, if the DOT price fails to make a permanent closure above the level of $5.25 on a 3-hour basis, it can extend its downward movement to the blue support line at the levels of $5.09. DOT investors should carefully monitor these two critical support and resistance levels mentioned in the analysis.
Coinotag analysts predict that if the DOT price fails to make 3-hour closures above the level of $5.25, it will carry out its decline towards the level of $5.09. At the same time, if the DOT price makes 3-hour closures below the level of $5.09, it is estimated that it can continue its downward trend towards the levels of $4.96.
However, if the DOT price initiates the upward trend from the levels of $5.09 – $4.96, the target of the rise will be the mentioned level of $5.65 in the analysis. DOT investors should monitor these important support and resistance levels and determine their investment strategies accordingly.
