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? Key technical points: The DOT chart displays the 20-and-50-day nearing a bullish crossover The DOT/USDT pair appreciated nearly 43% in the last three weeks Finally, the 24-hour trading volume of the Polkadot coin is $242.1 Million, marking a 12.3% rise. Past Performance of DOT 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. Source-Tradingview DOT Technical Analysis 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...