Polkadot sees a bounce from $7.5 but can bulls bet on further gains - Aliens: AI Crypto News & Markets Updates
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Polkadot sees a bounce from $7.5 but can bulls bet on further gains

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AMB Crypto

Fri, May 20, 2022

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice alt HD: Some respite for Polkadot on the price charts, can buyers follow through in the coming weeks?

The development activity of Polkadot has steadily risen in the months of April and May, even as the price tumbled past support levels on the price charts.

Bitcoin was indecisive at the $30k area as well, and both BTC and DOT have strong resistance levels to the north.

In February and March, DOT appeared to trade within a range from the $23.18 resistance level to the $14.24 support level.

The longer-term bias for DOT would remain bearish on the charts until DOT can push past the $14 level, and bulls are able to defend the $12-$14 area upon a retest.

In the past two months, the RSI has been below neutral 50 for a significant amount of time, to denote a bearish trend in progress.

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