Polkadot (DOT) Gathers Steam, Sets Sight On $8.07 Resistance Level

Polkadot (DOT) has seen a fairly consistent momentum as it currently trades at $7.92 and eyeing the next key resistance at $8.07. The DOT/USD pair predictably scores a strong upside or further gains that can go as high as $8.50. The DOT/USD pair has gained roughly 1.38% overnight which has increased the coin price to $7.92 and is bound to spike to the $8.07 level and higher. The token which has a market cap of $7.73 billion is currently ranked as the 10th highest cryptocurrency, based on market capitalization. The DOT/USD pair currently enjoys a 24-hour trading volume of $750 million. Suggested Reading | Binance Coin Trading Volume Up 35% As BNB Spikes To $274 DOT Is Generally Bullish The DOT price analysis shows a robust uptrend seen in the last 24 hours. The token has been bullish which have pushed the prices relatively higher. On the other hand, if the bears suddenly take over the market, a decline may be apparent at the $7.24 support level or lower. This is however seen as short-lived. Overall, the trend has been generally bullish and the Relative Strength Index (RSI) for DOT/USD has been increasing and trading over the moving average indicator which signifies a bullish trend and showing accelerated gains. Image - Analytics Insight The prices is looking good and trading above the $7.70 key support level. In fact, judging by the 4-hour chart, DOT has created a bullish flag pattern or consists of higher highs and higher...