Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

Polkadot’s DOT surged towards $18.50 before correcting lower against the US Dollar. It is holding gains above $15.00 despite a crash in bitcoin and Ethereum. DOT rallied above $12.00 and $15.00 before it faced sellers near $18.50 against the US dollar. The price is trading nicely above the $15.00 support and he 100 simple moving […]

Polkadot (DOT) Holding Gains Despite Sharp Drop in BTC and ETH

Polkadot’s DOT surged towards $18.50 before correcting lower against the US Dollar. It is holding gains above $15.00 despite a crash in bitcoin and Ethereum. DOT rallied above $12.00 and $15.00 before it faced sellers near $18.50 against the US dollar. The price is trading nicely above the $15.00 support and he 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $15.50 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair remains in a positive zone and it is likely to continue higher towards $18.50 and $20.00. Polkadot’s DOT Stable Above $15 After a close above the $12.00 level, DOT started a fresh rally above the $15.00 resistance level. There was a strong bullish momentum above $15.00 and the price even climbed above $18.00. However, the bulls failed to test the $20.00 level. The recent high was formed near $18.37 and the price recently corrected lower. There was a break below the $16.50 support level, but the bulls were active near the $15.00 and $14.80 support levels (a multi-touch zone). A low is formed near $14.78 and the price is currently rising. It broke the $16.00 level and tested the 50% Fib retracement level of the downward move from the $18.37 swing high to $14.78 low.