- Polkadot price has continued its slow grind higher since the end of March.
- DOT points to a steady slope toward $7.00 in the first stage.
- Expect a steady grind higher for April with the peak of February up for grabs.
Polkadot (DOT) price is gearing up to make April a solid winning month as nearly a 20% gain is projected to be hit by the end of April. DOT sees its price action underpinned, and even with the Relative Strength Index (RSI) dipping, the trend still points to higher numbers. Expect a nice and steady rally without big waves, which is ideal for traders to rake in gains at the end of the month.
Polkadot price primed for a steady 20% without making big waves
Polkadot price is heading into altcoin season with many of its market participants. Normally, that time of the year is often met with severe volatility and huge swings up and down. Not for DOT though. It seems this year that the trend is pointing one way higher and could bear a near 20% gain with the February peak as the take-profit level.
DOT will find support from the $6.23 handle and the 55-day Simple Moving Average (SMA). Both will make sure that the rally does not break down substantially. To the upside, the monthly R1 at $7.00 will be the first handle to reach and pause before entering the last stage. That last stage will pump price action in DOT up toward the R2, above $7.60 and bearing a 20% gain.
DOT/USD 4H-chart
Unfortunately, this grind higher could get cut short once price action starts to slide below the green ascending trend line. Bulls would perceive a trend line breakdown as the end of the rally. Positions would get unwound quickly and see price action collapse back to the rally’s start at $5.74.