Polkadot price analysis

Polkadot

DOT

tickers down

$4.95

has been range-bound between $5 and $5.65 for the past several days. The price has reached the support of the range, which may witness a tough battle between the bulls and the bears.

DOT/USDT daily chart. Source: TradingView

The 20-day EMA ($5.17) has started to turn down and the RSI is in the negative territory, indicating a minor advantage to the bears. If the price slides and sustains below $5, it may start a deeper pullback to $4.74 and then to $4.60.

Instead, if the price rebounds off the current level and breaks above the 20-day EMA, it will signal that the range remains intact. The DOT/USDT pair could then rise to $5.33 and thereafter to the overhead resistance at $5.64.

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