Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»DOT price (Polkadot) has reached a critical juncture. Is this a bull trap or a correction?
EXCHANGE NEWS

DOT price (Polkadot) has reached a critical juncture. Is this a bull trap or a correction?

By Crypto FlexsMay 8, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
DOT price (Polkadot) has reached a critical juncture.  Is this a bull trap or a correction?
Share
Facebook Twitter LinkedIn Pinterest Email

Polkadot (DOT) is correcting gains due to $7.5 resistance against the US dollar. If the price stays above the $6.75 support, another hike could begin.

  • DOT picked up the pace and tested the $7.5 resistance level against the US dollar.
  • The price is trading in the $7.00 area and above the 100 simple moving average (4-hours).
  • On the 4-hours chart of the DOT/USD pair, there is a short-term expanding triangle with resistance forming at $7.50 (data source from Kraken).
  • Failure to hold above the $6.75 support level could lead to the pair continuing to fall.

Polkadot price maintains support

After forming a base above the $6.00 level, DOT price began a significant rise. It broke through many hurdles near $6.75 and even surged above $7.25. A high was made at $7.46 and the price is now correcting gains like Ethereum and Bitcoin.

There was a move below the $7.25 support zone. The price fell below the 23.6% Fib retracement level, rising from the $6.03 swing low to the $7.46 high.

DOT is currently trading above the $7.00 area and the 100 simple moving average (4-hours). Immediate resistance is near the $7.25 level. The next major resistance is near $7.50. There is also a short-term expanding triangle forming resistance at $7.50 on the 4-hours chart of the DOT/USD pair.

Source: DOTUSD on TradingView.com

A successful break above $7.50 could start another strong rally. If stated, the price could easily rise to $8.00 in the short term. The next major resistance is seen near the $8.80 area.

Are there any more downsides to DOT?

If DOT price fails to initiate a new rally above $7.25, it may continue to decline. The first major support is near the $7.00 level and the 100 simple moving average (4-hours).

The next major support is near the $6.75 level or the 50% Fib retracement level of the rise from the $6.03 swing low to the $7.46 high, below which the price may fall towards $6.50. Any further losses could open the door to a move to $6.10 support or $6.00.

technical indicators

4-Hour MACD – The MACD for DOT/USD is now losing momentum in bearish territory.

4-Hour RSI (Relative Strength Index) – The RSI for DOT/USD is now below the 50 level.

Key support levels – $7.00, $6.75 and $6.50.

Key resistance levels – $7.25, $7.50, $8.00.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025
Add A Comment

Comments are closed.

Recent Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025
Most Popular

SEC and canary capital files that can be the first SUI ETF

March 17, 2025

FTX Bankruptcy Judge Takes Steps to Shorten Customer Recovery Schedule

December 14, 2023

Stablecoin’s market cap surpasses $ 250 billion, accelerating regulatory momentum.

June 2, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.