Polkadot (DOT) is gaining pace above the $8.80 resistance against the US Dollar. The price could extend its rally once it settles above the $10 barrier.
DOT is gaining pace above the $8.50 and $8.80 levels against the US Dollar.
The price is trading above the $9.00 zone and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support at $9.20 on the 4-hour chart of the DOT/USD pair (data source from Kraken).
The pair could continue to rise unless the bears are able to defend the $10 resistance zone.
Polkadot Price Restarts Rally
After forming a base above the $7.50 level, DOT price started a steady increase. It gained over 25% in a few days and even outperformed Ethereum and Bitcoin at times.
There was a clear move above the $8.50 and $8.80 resistance levels. The price even traded close to the $10.00 level. A new multi-week high is formed near $9.89 and the price is now consolidating gains. It is holding gains above the 23.6% Fib retracem
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