Polkadot (DOT) USDT Pair could be an interesting check-in for the upcoming sessions
DOT USD Price

Polkadot (DOT) USDT Pair could be an interesting check-in for the upcoming sessions

By AshkyKharoo | CryptoCircleOne | 28 Feb 2021


In the last 3-4 days of the trading session, Polkadot experienced one of the sharpest declines reaching $26.5 from the record high at $42.3 (USDT), an approx ~37% pullback.

Currently trading above the 23.6% Fib retracement level of the download move from $42.3 swing high to $26.5 swing low, the following trading sessions could be interesting for the Polkadot DOT USDT pair.

It seems like a contracting triangle pattern is forming on the 4-hour chart of the DOT USD pair. A break from the upper side of the triangle and a 50% Fib retracement level at 34.40 could bring a fresh increase for the Polkadot DOT USD pair. The next key resistance is at $38.9. If the momentum succeeds to break above the $38.9, the DOT USD price could push higher towards $42-$45.

DOT USD Price Live

If the Polkadot DOT USDT pair fails to continue higher above $34.9, there could be a downside correction. The first support is near $26.5.

Technical Indicators

  • Both Hourly Stoch RSI and RSI of DOT USD price shows sign of recovery from overbought levels and trending upwards.

  • Major Support for DOT/USDT pair at levels $26.5, and $20.0

  • Major Resistance Levels – $34.4, $38.9, and $42.3.

  Check here for DOT USD Price Live.


AshkyKharoo
AshkyKharoo

Engineer with love for technology, especially those which solve real-user problems In blockchain for the last 5 years.


CryptoCircleOne
CryptoCircleOne

CryptoCircleOne provides market insights and analysis on the Bitcoin, cryptocurrency and upcoming promising blockchain developments.

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