If a bullish trend continues, it will be near impossible for the dollar to resist. The market has been in decline since becoming overbought at $20 and this is being seen as an opportunity sell-off by traders looking to take some profit off the table before continuing on with buying momentum.
The “can polkadot reach $10,000” is a question that has been asked for a while. The answer is no, but the price will climb to $20 resistance.
March 9 Polkadot Price Analysis
As the currency hangs around the $17.5 resistance level, the Polkadot price bulls are gaining control of the market.
Levels of importance:
Levels of resistance: $22, $24, $26
Levels of support: $14, $12, and $10
According to current forecasts, DOT/USD might rise beyond $20 in the next positive move. This crypto’s rough time seems to be gone as it attempts to establish a new trend. The Polkadot price is presently trading at $17.59, and although the currency hit a daily high of $18.10 during the European session, it is likely to retest $16 before rising again.
A break over the $20 resistance level might entice additional buyers to extend their positions, driving the price beyond the upper channel boundary and towards the resistance levels of $22, $24, and $26. If the price retreats and breaks below the 9-day and 21-day moving averages on the downside, the sell-off may gather steam, with the next target being the channel’s bottom limit.
If the $15 support level is breached, negative pressure may grow, with the following supports possibly being $14, $12, and $10. Meanwhile, the technical indicator Relative Strength Index (14) is advancing over the 50-level, indicating that the market is receiving fresh optimistic indications.
In comparison to Bitcoin, the Polkadot price is continuing to fall as it falls below the 9-day and 21-day moving averages. Meanwhile, a daily closing below this resistance level might prompt sellers to continue the rally towards the 3800 SAT support level and below.
A close above the moving averages, on the other hand, might boost the Polkadot price towards the daily resistance level of 4600 SAT, and a further bullish advance could push the coin to the resistance level of 4800 SAT and beyond. Meanwhile, when the technical indicator Relative Strength Index (14) falls below the 40-level, indicating negative movement, it is possible that DOT/USD will continue its bearish trend.
The “polkadot price prediction 2040” is a bullish prediction for the cryptocurrency. The “DOT/USD Sets to Climb $20 Resistance.”
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