Polkadot (DOT) is gaining pace above the $10.00 resistance against the US Dollar. The price could extend its rally toward the $12.00 level in the near term.
DOT is gaining pace above the $9.80 and $10.00 levels against the US Dollar.
The price is trading above the $10.00 zone and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support at $9.10 on the 4-hour chart of the DOT/USD pair (data source from Kraken).
The pair could continue to rise toward the $12 resistance zone.
Polkadot Price Resumes Rally
After forming a base above the $8.00 level, DOT price started a fresh rally. It gained over 20% in a few days and even outperformed Ethereum and Bitcoin at times.
There was a clear move above the $9.50 and $10.00 resistance levels. The price traded to a new multi-month high at $11.00 and is currently consolidating gains. There was a minor pullback below the $10.75 level. The price is still above the 23.6% Fib retracement level of the upw
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