The upcoming support trendline bolsters DOT buyers for a bullish breakout from $23. Can buyers expect a rally to the $30 mark?

Key technical points:
<ul>
 	<li style="font-weight: 400">The DOT chart displays the 20-and-50-day nearing a bullish crossover </li>
 	<li style="font-weight: 400">The DOT/USDT pair appreciated nearly 43% in the last three weeks</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of the Polkadot coin is $242.1 Million, marking a 12.3% rise.</li>
</ul>
<h2>Past Performance of DOT</h2>
A descending triangle pattern governed the first two months of 2022. Under the pattern's influence, the sellers dumped the altcoin to $16, forming the crucial neckline support. However, the RSI bullish divergence indicated a rising bullish momentum, resulting in an upside breakout from the descending trendline.

<img src="https://s3.tradingview.com/snapshots/4/4G2SuIeN.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/4G2SuIeN/">Tradingview</a>
<h2>DOT Technical Analysis </h2>
The post retest rally pierced the $20 physiological level and hit $23.4 resistance. Furthermore, the higher price rejection candles at this resistance suggested that the sellers defend this level with vigor. However, the rebound rally from the 20-day EMA undermined the sellers' pressure and now challenges the overhead resistance(23.3).

As DOT buyers prepare for a bullish breakout from $23.3, the 200-day EMA hovering near this resistance may strengthen the defense line for sellers. However, on the other side, the rising 20-day EMA offers dynamic support to DOT price.

RSI Indicator:  On March 27th, the RSI indicator marked a high of 66.3%, the highest since the latter half of November 2021. Moreover, the RSI slope shows a steady rally with no significant sign of weakness.

In a nutshell, the DOT technical analysis shares a bullish bias, indicating a possible breakout from $23.4 for another leg-up.
<h2>Upcoming Trend </h2>
A genuine breakout and closing above the $23.4 resistance would intensify the bullish pressure and pump the altcoin to 22% to the $28.5 mark. Moreover, the technical chart shows an upcoming support trendline that carries the bullish rally.

Support Levels: $23.4 and $25.8

Resistance Levels: $20 and $17.2

DOT Technical Analysis: DOT buyers rechallenge the $23 resistance

The upcoming support trendline bolsters DOT buyers for a bullish breakout from $23. Can buyers expect a rally to the $30 mark?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

DOT Technical Analysis: DOT buyers rechallenge the $23 resistance

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