LIVEThe price of Polkadot ($DOT ) has hit a snag
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around $7.53, suggesting a possible correction ahead according to indicators like RSI and MACD. DOT's closing prices have been bouncing around, showing some ups and downs recently. The short-term trend looks bullish though, with both the 9 and 20 Exponential Moving Averages (EMA) on the rise, indicating strong support levels.
The MACD indicators are also bullish overall, but there's a slight dip in the latest histogram value, which could mean a weakening in buying momentum. Meanwhile, the RSI has been above 70, indicating overbought conditions, which might scare off new buyers and lead to a pullback.
Looking forward, it's crucial to watch resistance levels at $8.464 and $8.612. If the bullish trend continues and breaks through these levels, we could see further gains. On the flip side, support levels at $7.088 and $7.071 need to hold to avoid a deeper drop. If they break, it might be a good time to exit long positions or consider short trades.$BNB