POLKADOT PRICE RESTARTS RALLY

After forming a base above the $7.50 level, DOT price started a steady increase. It gained over 25% in a few days and even outperformed Ethereum and Bitcoin at times.

There was a clear move above the $8.50 and $8.80 resistance levels. The price even traded close to the $10.00 level. A new multi-week high is formed near $9.89 and the price is now consolidating gains. It is holding gains above the 23.6% Fib retracement level of the upward move from the $8.57 swing low to the $9.89 high.

DOT is now trading above the $9.00 zone and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $9.20 on the 4-hour chart of the DOT/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $8.57 swing low to the $9.89 high.

Immediate resistance is near the $9.85 level. The next major resistance is near $10.00. A successful break above $10.00 could start another strong rally. In the stated case, the price could easily rally toward $12.00 in the near term. The next major resistance is seen near the $13.50 zone.

ARE DIPS SUPPORTED IN DOT?

If DOT price fails to start a fresh increase above $10.00, it could start a downside correction. The first key support is near the $9.50 level.

The next major support is near the $9.20 level, below which the price might decline to $8.80. Any more losses may perhaps open the doors for a move toward the $8.50 support zone.#DOT🔥🚀🚀 #TrendingTopic #Write2Earn‬