![Polkadot [DOT] consolidates further: Here are key levels to track](https://i.headtopics.com/images/2023/4/10/cryptoamb/polkadot-dot-consolidates-further-here-are-key-lev-polkadot-dot-consolidates-further-here-are-key-lev-1645208722157740033.webp)
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion DOT has been consolidating since 13 March. Declining funding rates may offer sellers more market influence in the mid-term. For the past four weeks, Polkadot [DOT] has traded within the $5.8 – $6.6 range. […]
In the second half of February, DOT hit a high of $7.9 but faced a sharp retracement afterwards and plunged by over 30%. But the $5.3 support level prevented more plunge, setting DOT into recovery.
Conversely, DOT could aim for the range’s upper boundary of $6.6 if BTC reclaims the $28k level and surges afterward. But bulls must move above the mid-range of $6.2 and EMA ribbon to dent the bearish sentiment. Northwards, the $7.0 and $7.4 are key resistance levels to watch out for.
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