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Polkadot (DOTUSD) Price; Bulls Defends $47 Resistance Level, Bears are Prevailing – Cryptovibes.com – Daily Cryptocurrency and FX News

Polkadot (DOTUSD) Price; Bulls Defends $47 Resistance Level, Bears are Prevailing – Cryptovibes.com – Daily Cryptocurrency and FX News


DOTUSD Price Analysis – April 18

The price may break above the resistance level of $47 provided the bulls increase their pressure; above it are $53 and $59 resistance levels. Should the $47 resistance level holds, the price may break down the support level at $40, further increase in the bears’ pressure may push down the price to $32 and $27

DOT/USD Market

Key levels:

Resistance levels: $47, $53, $59

Support levels: $40, $32, $27

 

DOTUSD Long-term Trend: Bearish

DOTUSD is bearish on the daily chart. The coin was range-bound within the resistance level of $40 and support level of $32 last two weeks. The bulls made attempts many times to break up the resistance level of $40 but unable because of the strong resistance level. The bears’ momentum was not enough to break down the support level of $32. On April 02, the bulls broke up the $40 resistance level and tests resistance level of $47. Another ranging movement commences within $40 and $47 levels.

DOTUSD Daily chart, April 18

The fast Moving Average (9 periods) remains above the slow Moving Average (21 periods EMA) and the price is trading over and in between the two EMAs as a sign of ranging movement. The price may break above the resistance level of $47 provided the bulls increase their pressure; above it are $53 and $59 resistance levels. Should the $47 resistance level holds, the price may break down the support level at $40, further increase in the bears’ pressure may push down the price to $32 and $27. The relative strength index period 14 is pointing down at 40 levels to indicate a sell signal.

 DOTUSD medium-term Trend: Bearish

DOTUSD is ranging in the 4-hour chart for more than five days. The ranging movement is between the $47 resistance level and $40 support level. The bulls lost their momentum when the price reaches the resistance level at $19; the price could not increase further. At the moment of writing this report, the bears are gaining more momentum and pushing down the coin to break the support level of $40. The price is heading towards $32 price level.

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DOTUSD 4-hours, April 18

The two EMAs are interlocked to each other and the currency pair is trading below the 21 periods EMA and 9 periods EMA which indicates that bears are prevailing in the Polkadot (DOT) market. The relative strength index period 14 is at 20 levels and the signal lines pointing down to indicate sell signal.

 

 



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