Polkadot (DOTUSD) Price: Will There Be a Bullish Breakout at $6.7 Level?
Low momentum in DOT market DOTUSD Price Analysis – October 05 A breakout at the resistance level of $6.7 may drive the price towards the resistance level of $7.6 and $8.3. However, an increase in the bears’ momentum may push Polkadot below $5.9 which may reduce it to $4.0 and $3. 0 support levels . DOT/USD Market Key levels: Resistance levels 6.7, 7.6, $8.3 Support levels: $5.9, $4.0, $3.0 DOTUSD Long-term Trend: Ranging On the long-term outlook, DOTUSD is on the ranging movement. That is to say the momentum of buyers is equal to the momentum of sellers. The price is moving within the boundary of $6.7 resistance level and $5.9 support level. This scenario started when the sellers pushed the price to the $5.9 level and lose the momentum. Buyers equally have low pressure that cannot push the price above the $6.7 level. The fast Moving Average (9 periods EMA) is trying to cross the slow Moving Average (21 periods EMA) and the price is trading around the two EMAs as a ...