DOT increases 6%, towards the key resistance

• Key Support Level: $ 25
• Key Resistance: $ 32

Polkadot (DOT) has completed a short-term correction and is currently creating a trading range between the support at USD 25 and the resistance at USD 32.

The first attempt to exceed this range was rejected last Monday. However, the DOT appears ready for a second attempt.

DOT / USDT daily chart | Source: TradingView

Technical indicators

Volume: Volume is a bit low, but it benefits buyers at the moment as DOT has hit a higher low.

RSI: The RSI has also made a higher low, which is a bullish sign and is currently hovering above 50 – the neutral level.

MACD: The daily MACD has formed a bullish cross and is sloping up. This is a promising sign for the cops.

DOT / USDT daily chart | Source: TradingView

Perspectives

The trend for DOT is somewhat bullish but it will take a breakout of major resistance to confirm this.

Short term forecast

DOT managed to halt the downtrend and consolidate below the critical resistance at $ 32. Now the cops will make one more attempt to break through this critical resistance. If successful, the DOT could start a new uptrend.

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