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#Write2earn #Polkadot ( #DOT ) Price Analysis: Rebounding from Support Levels Amid Market Volatility #altcoins #Dot........ $DOT Polkadot ( DOT ) has faced a prolonged downturn but has shown resilience with consistent support near $6.40, indicating a possible bottoming out. A recent uptrend pushed DOT's price above both the 20-day and 200-day Simple Moving Averages (SMA). Since its peak in mid-March, DOT has experienced a significant decline but found strong support at $6.40. Rebounding from this level, DOT surpassed the 200-day SMA by April 22nd, reaching $7.47. Despite facing resistance, DOT rebounded again on Wednesday and Thursday, exceeding both SMAs and settling at $7.29. Currently, DOT hovers around $7.17, slightly above the 200-day SMA. Analyzing patterns, a double bottom formation suggests a potential price floor, with a current range between $7.10 and $7.20. Maintaining position above the 200-day SMA could drive DOT towards $8, supported by bullish MACD signals and a neutral RSI. The recent decline triggered liquidation of long positions, indicating a possible bottoming out and paving the way for DOT's value resurgence.

#Write2earn #Polkadot ( #DOT ) Price Analysis: Rebounding from Support Levels Amid Market Volatility #altcoins #Dot........

$DOT

Polkadot ( DOT ) has faced a prolonged downturn but has shown resilience with consistent support near $6.40, indicating a possible bottoming out. A recent uptrend pushed DOT's price above both the 20-day and 200-day Simple Moving Averages (SMA).

Since its peak in mid-March, DOT has experienced a significant decline but found strong support at $6.40. Rebounding from this level, DOT surpassed the 200-day SMA by April 22nd, reaching $7.47. Despite facing resistance, DOT rebounded again on Wednesday and Thursday, exceeding both SMAs and settling at $7.29.

Currently, DOT hovers around $7.17, slightly above the 200-day SMA. Analyzing patterns, a double bottom formation suggests a potential price floor, with a current range between $7.10 and $7.20. Maintaining position above the 200-day SMA could drive DOT towards $8, supported by bullish MACD signals and a neutral RSI.

The recent decline triggered liquidation of long positions, indicating a possible bottoming out and paving the way for DOT's value resurgence.

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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