DOT coin price shows a recovery rally in a rising channel fashion representing a surge in the underlying bullishness. Will the uptrend surpass the $20 mark?

Key technical points:
<ul>
 	<li style="font-weight: 400">DOT prices prepare a rising channel pattern.</li>
 	<li style="font-weight: 400">The MACD and signal lines are merged below the zero line.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Polkadot is $621 Million, marking a 13% fall. </li>
</ul>
<h2>Past Performance of DOT</h2>
A bearish reversal after the 8th of February peak at $23 results in an upward trend in the direction of DOT price. However, this reversal in a V shape fell the altcoin by 28.6%, bringing it down to $17.18 support. In addition, the coin chart illustrates a relief rally that raised the price 15.4% higher, reaching the $19.66 mark. 

<img src="https://s3.tradingview.com/snapshots/c/cXa7IrwC.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/cXa7IrwC/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>DOT Technical Analysis </h2>
<a href="https://www.cryptoknowmics.com/news/dot-technical-analysis-dot-buyers-rechallenge-the-23-resistance/">DOT</a> price rising within a channel challenges the 50-day EMA and the psychological barrier at $20 as the buyers start a coup. Hence, closing above the resistance confluence will fire a bullish flare shot attracting buyers around the globe.

The downsloping EMAs for the 50 and 200-day suggest a strong bearish trend, with the 50-day being an opportunity to rescind the movement upwards. But, a possible break from the 50-day EMA will be able to reach the 200-day EMA, which would result in a rise of 20 percent.

MACD Indicator: It appears that the MACD, as well as the signal line, are set to join under the line of zero, which could trigger a bullish crossover. Therefore it is indicating a potential buying signal and will soon announce the possibility of a crossover.

RSI Indicator: The RSI slope shows a wavy uptrend approaching the halfway mark and surpassing the 14-day average line. Hence, the indicator reflects a gradual rise in the underlying bullishness.

In a nutshell, the DOT technical analysis shows a potential rise to the $22 mark.
<h2>Upcoming Trend </h2>
DOT coin price projects a bullish reversal within the rising channel, increasing the chances of the rally approaching the $20 mark. Moreover, the breakout of the 50-day EMA will ensure a bullish rally to the next resisting EMA at $21.

Resistance Levels: $21 and $24

Support Levels: $18 and $17

DOT Technical Analysis: Rising Channel Brings Buyers Back in Action

DOT coin price shows a recovery rally in a rising channel fashion representing a surge in the underlying bullishness. Will the uptrend surpass the $20 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: Rising Channel Brings Buyers Back in Action

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