Polkadot Price Stuck at Resistance Level, Analyst Sees Bullish Trend
The Polkadot price has been stuck at the same resistance level for over two weeks. After spiking from $0.85 in early September to a high near $1.28 on September 8, DOT spent the next week grinding back down to the $1.00 zone by September 15.
Since then, it has bounced off that low and rallied into the $1.2512 resistance band around September 19 to 23, only to get rejected. The price pulled back to a higher low near $1.0805 instead of retesting $1.00 again.
The short-term chart is still stalling at this level, but the longer-term trend has turned bullish, with the 200 EMA trending upward underneath the price at $1.0090, well below current levels.
An analyst notes that each pullback since the September 8 high has landed higher than the last, and a confirmed close above $1.2512 would break this resistance level and open the path toward $1.5028.