TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot. (Data feeds from Binance) Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Price Analysis Of Polkadot On The Weekly (1W) Chart   From the chart, the price of DOT saw a weekly low of around $6.50, where it has formed support. The price has built more momentum as it faces resistance at $10. A break above the $10 mark, the price of DOT would rally to $12. If the price of DOT on the weekly chart fails to break the $10 mark, then a retest is bound at $8.62. The weekly relative strength index for DOT price is 36, indicating more buy bids after bottoming out on the weekly low. The volume shows decent buy bids, which will push the price of DOT higher. Weekly resistance for DOT price – $10. Weekly support for DOT price – $6.50.   Price Analysis Of Polkadot On The Daily (1D) Chart The price of DOT found strong support at around $6.50, with what seems to be the bottom on the daily chart. DOT has continued to rally above this support region of $6.50 to a high of $9, where it has faced resistance. DOT’s price is at $8.40 at the point of writing; it is trading above the 50 & 200 exponential moving averages (EMA) The 50 & 2...