fxstreet.com 08 Feb, 2021 15:00 am

DOT rebounds aiming for new record highs toward $30

DOT is back to trading above $20, a move that seems to have triggered massive buying orders. The least resistance path seems upwards from a technical

A correction from the current price levels may seek support at $20 and the 50 SMA on the 12-hour chart.DOT/USD 12-hour chart Looking at the other side of the fence Polkadot is in price discovery, which means that we do not have a defined resistance zone.If declines continue, perhaps due to panic-selling, the cryptocurrency will explore the levels toward the 50 Simple Moving Average (SMA) on the 12-hour chart close to $18.When the MACC line (blue line) lifts above the signal line, it is a buy position.

Once broken, DOT will be pushing toward $30.Settling above the $22 mark might signal more buyers to join the market in the long run, pushing DOT toward $30.

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