Key assistance level: $ 23
Key Resistance Level: $ 32
Polkadot briefly fell below $ 23, but has only risen since. Throughout the rally, the RSI formed a large bullish divergence from the December 20 low. This returned the bullish momentum for the DOT, which is now moving quickly towards the key resistance at $ 32.
Technical Indicators
Trading Volume: This current move higher is on good volume, but nothing is out of the ordinary, looking at the past weeks.
RSI: The daily RSI made a clear bullish divergence as indicated on the chart below by the yellow arrows. It was a signal to buyers that it was time to pay attention to DOT, and the price is now showing it.
MACD: The daily MACD is a day away from a bullish cross. This is good news for the bulls as DOT may enter into a sustained rally, at least until it faces the key resistance at $32.
Bias
The DOT bias is currently bullish. The indicators support this bias, as noted above.
Short-Term Prediction for DOT Price
DOT is on a mission, and the price may soon reach the key resistance at $32. Of course, the overall market momentum is an important thing to keep in proper consideration.
