Polkadot price analysis

The failure of the bears to sink Polkadot

DOT

tickers down

$4.08

below the $3.91 support indicates that the range-bound action remains intact.

DOT/USDT daily chart. Source: TradingView

Buyers will try to drive the price above the 20-day EMA ($4.10) and challenge the overhead resistance at the 50-day SMA ($4.32). If this level is cleared, the DOT/USDT pair could surge to the downtrend line. The bulls will have to overcome this barrier to signal a potential trend change.

The important support to watch on the downside is $3.91. A break below this level will suggest the resumption of the downtrend toward $3.58.

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