Polkadot joins other cryptocurrencies to push for recovery following last week’s losses. DOT stepped above the four-hour 50 SMA, paving the way for gains eyeing $40. Resistance anticipated at $36, as highlighted by 200 and 100 SMA on the four-hour chart. Polkadot recently bounced off support at $27 and is moving toward the coveted $40 level. The uptick in the price is not unique to DOT, because other cryptocurrencies have joined the party. Polkadot is doddering at $34 while technical levels gradually improve. The upswing will likely hit highs above $40 in the coming sessions. Polkadot journey to all-time high begins Polkadot has made a confirmed break above the 50 Simple Moving Average (SMA) on the four-hour chart. On the upside, the confluence formed by the 100 SMA and the 200 SMA near $36 limits price action at the time of writing. A break above this seller congestion zone would bolster DOT toward $40. The uptrend has been validated by the Moving Average Convergence Divergence (MACD) indicator on the four-hour chart. This technical tool helps identify the general trend of the market and positions where to buy the dip and sell the top. A MACD line (blue) crossing above the signal line is a bullish signal observed on the four-hour chart. DOT/USD four-hour chart The four-hour SuperTrend indicator has presented a signal to long Polkadot on the four-hour chart. This tells traders to consider increasing stakes in DOT and speculate on a sustained uptrend in the near term. The SuperTrend indicator tells you to buy when it turns green and flips under the asset’s price. DOT/USD four-hour chart Looking at the other side of the fence The confluence formed near $36 by the 100 SMA and the 200 SMA could hinder the price action toward $40. If Polkadot is rejected at this level, losses will be incurred under $30 and seek support at $27. Therefore, holding above the 50 SMA is key to sustaining the uptrend and keeping losses at bay. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY: Break below 109.35 to add bearish pressure FX Street 2 years Polkadot joins other cryptocurrencies to push for recovery following last week's losses. DOT stepped above the four-hour 50 SMA, paving the way for gains eyeing $40. Resistance anticipated at $36, as highlighted by 200 and 100 SMA on the four-hour chart. Polkadot recently bounced off support at $27 and is moving toward the coveted $40 level. The uptick in the price is not unique to DOT, because other cryptocurrencies have joined the party. Polkadot is doddering at $34 while technical levels gradually improve. The upswing will likely hit highs above $40 in the coming sessions. Polkadot journey to all-time high… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.