There is an increase in Polkadot (DOT) price after hitting its lowest last month, $26. In the past session, DOT/USD strengthened by about 1.39%. While writing this content, you can trade DOT at about $37, flourishing with its momentum to Monday. You can take advantage of its recovery to execute your trades to increase your potential of earning returns. However, you may need to know more about this asset before investing. The best thing is to act whenever you see opportunities, as things keep on fluctuating each moment in the crypto market. There is nothing wrong with trying your luck.
Although Polkadot is staging a recovery, keeping pace with the upward trend might face pressure at given resistance levels. The immediate challenge that Polkadot investors need to deal with is $39.42. Failing to break past that might shake this digital currency. Polkadot can lose its market confidence with lower prices as the value decreases.
Alternatively, in cases where the buying pressure creates enough momentum capable of going over the resistance level, other vital resistance levels for traders to enjoy are sitting at about $42 and $49. With these price points, Polkadot (DOT) might undergo sideways trading. That will happen until more crypto buyers enter the space. That is after the currency clears is preceding resistance.
If the $42 price point succeeds, you may witness sellers’ dominance, and Polkadot moves soon. Its prices might decrease to about $37 or even $32. Polkadot price might hover under $37 for a while up to when the momentum creates adequate pressure. Also, buyers taking part to give DOT/USD another attempt might help.
The worst of all is that you cannot rely on Technical Indicators. You will access mixed signals on what might happen with Polkadot for now. With the absence of significant developments powering the trade moves, traders cannot benefit from MACD and RSI indicators for now.
Traders are expecting Polkadot to incorporate the latest features to fix bugs. With that, this cryptocurrency will adapt to market changes with ease. You will get timely market updates that will increase your probability of earning profits. If Polkadot can take advantage of the availability of technology, traders and investors will have a seamless crypto experience.