Polkadot Price Sets Sights on New Highs: DOT Bullish Momentum Building

May 23, 2024 04:00 am Cryptocurrency 1067

Polkadot (DOT) is consolidating gains above the $7.40 zone against the US Dollar. The price could start another increase if it clears the $7.70 resistance.

DOT gained pace and tested the $7.70 resistance level against the US Dollar.

The price is trading above the $7.20 zone and the 100-hourly simple moving average.

There is a key bullish trend line forming with support at $7.40 on the hourly chart of the DOT/USD pair (data source from Kraken).

The pair could continue to rise if it fails to stay above the $7.20 support.

Polkadot Price Holds Support

After forming a base above the $6.80 level, DOT price started a decent increase. It broke many hurdles near $7.20 and even spiked above $7.65. A high was formed at $7.69 and the price is now consolidating gains, like Ethereum and Bitcoin.

There was a move ..

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