#POLKADOT on the Verge of Explosive Growth: Don’t Miss Out on DOT’s Next Move!

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Polkadot ( $DOT )is showing strong bullish momentum, consolidating gains above $7.40 against the US Dollar. With potential to clear the $7.70 resistance, DOT could see another upward surge.

Key Highlights

•DOT recently tested the $7.70 resistance level.

•Currently trading above $7.20 and the 100-hour simple moving average.

•A bullish trend line supports DOT at $7.40 on the hourly chart (Kraken data).

•Potential for further rise if support holds above $7.20.

Polkadot Price Holds Steady

DOT established a solid base above $6.80, triggering a significant upward move. Breaking past key hurdles at $7.20, it briefly spiked above $7.65, reaching a high of $7.69. The price is now in a consolidation phase, mirroring patterns seen in $ETH and $BTC .

After a slight dip below the $7.50 support, DOT remains above the $7.20 zone and the 100-hour simple moving average. The hourly chart shows a bullish trend line at $7.40, providing critical support. Immediate resistance stands at $7.70, with the next major resistance at $7.80. Clearing $7.80 could trigger a robust rally towards $8.20, with $8.50 as a subsequent target.

Potential Downsides

If DOT struggles to surpass $7.70, it might face further declines. Key support levels are $7.40 and $7.30, near the 100-hour simple moving average and the 50% Fib retracement level from the $6.91 low to the $7.69 high. A drop below these levels could push the price towards $7.00, with additional support at $6.90 and $6.80.

Technical Indicators

•Hourly MACD: Gaining momentum in the bullish zone.

•Hourly RSI: Above 50, indicating strength.

•Major Support Levels: $7.40, $7.30, $7.10.

•Major Resistance Levels: $7.70, $7.80, $8.20.

Will DOT break through and reach new highs? Share your thoughts below!!

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