Polkadot Eyes Short-Term Gains Amid Bearish Trend
The Most Important Points at a Glance
Polkadot (DOT) shows a short-term bullish tendency if the resistance at 4.62 USD is broken. A rise to 5.25 USD would then be possible. However, the overall market outlook remains bearish, as many previous buyers have had to accept losses.
Current Market Situation of Polkadot
The DOT price is in a downtrend. Since November, Polkadot has given back almost all previously gained profits. The resistance at 4.62 USD is crucial for a potential recovery. If this level is breached, an increase of 12% to 5.25 USD could follow.
Technical Indicators and Market Structure
On the daily chart, the market structure remains bearish. The next key resistance is at 5.25 USD. Only a breakout above this level would change the overall outlook.
– **MACD (Moving Average Convergence Divergence)**: Shows a bullish crossover but remains below the zero line. This indicates ongoing downward pressure.
– **A/D Indicator (Accumulation/Distribution)**: Has been slightly increasing since February. This could suggest that selling volume during the decline was lower than buying volume during the previous rise.
Short-Term Development
On the 4-hour chart, the situation looks slightly better for buyers. The structure has shown higher lows over the past five days. The key area is at 4.62 USD. A breakout could trigger a short-term recovery, even though the overall outlook remains bearish.
Our Assessment
Polkadot is at a crucial point. In the short term, a rise to 5.25 USD could be possible if the resistance at 4.62 USD is overcome. However, the long-term market situation remains uncertain. Investors should keep an eye on the resistance levels at 5.38 USD and 6.72 USD, as these could represent strong selling zones.
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