Dot Coin Price Analysis: Surged 250%; What Lies Next?

• Dot coin prices are surging from the past 20 days, giving an upside of 250% 
• Dot coin price has surpassed the resistance of the upward channel and sustaining above it

After giving a bull run of 250%, the Polkadot coin has surpassed the resistance of the upward channel and is hovering there currently. Any decline can bring the coin down to the level of $12. The market cap and 24 hour volume are $15,215,433,520 and $1,659,619,456 respectively. 

Dot Coin Price Level: A Bubble About To Burst? 

Dot Coin price has made an all-time new high of $19.39 and surpassed the upward channel’s resistance. However, it seems that the volume and doji candles are signaling weakness in the rally.

The Bollinger Bands are wide open. The lower band appears to chase the upper band while the upper band is not contracting; this arises when the bulls maintain their position. The coin may go sideways or show a mild correction. The support lies at $12.65(Base) and $5.36(lower band), whereas the lower band provides the resistance at $19.94.

The VWAP is $17.45, acting as a possible resistance for the coin. 

The Stoch RSI is flashing a sell signal since the signal line is crossing down from the overbought territory’s slower line. A confirmed reversal may follow if the lines cross below 75. 

The MACD(8,21,5) is a flashing weakness for the trend as the signal line and slow lines form divergence. A divergence is likely to cause consolidation or reversal if it is followed by crosstown. 

The ADX line is at 55.85, which suggests that the trend is still powerful. However, it is returning from 60 levels and seems to return to neutral zones of 25. DI+ is at 38.78, while DI- is 5.74. The DI+ suggests a weakness in the bull run, but the consolidated DI- indicates that the bears are not entering the coin. These indicators together show a possible consolidation rather than a possible reversal. 

Conclusion

Polkadot coin prices can likely hover in the $15-$17 range. The bull rally seems to remain intact, and the bears are not entering the markets yet. If the coin remains in the positive zone of the Bollinger band, then it may surge to $22 levels(Possible resistance as per Fibonacci Retracement levels) 

Support: $15.15(support) and $12.65(BB Base)

Resistance: $19.25(high of $19.39) and $22.5(Fibonacci level) 

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