Polkadot's strong bullish trend indicates price surge strategy for investors.

Polkadot’s price surge signals bullish trend

Polkadot’s recent one-month price surge of 19.79%, coupled with the six-month price surge of 129.21%, presents a bullish scenario and indicates strong upward momentum.

Currently priced at $9.26, the near-term target is a test of the nearest resistance at $9.26, and given the positive trajectory, a second resistance level at $10.25 may be targeted.

The ten-day EMA at $10.01 may attract price action. If the bullish trend continues, a move above the all-time high of $56.22 could enter the realm of possibility in the longer term, especially as the 100-day moving average at $8.04 remains supportive.

Conversely, selling signs on the MACD and 10-day simple moving average suggest a potential short-term pullback. If the current price struggles, a fall towards the nearest support level at $6.91 is possible, with further losses likely to see the price find a foothold at the second support level at $5.55.

While the six-month surge paints a positive long-term picture, investors should remain cautious.​

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