• Polkadot presents its first upside move within nine days with a 6% jump.
  • The alt climbed from $15.95 to $18.95, its current levels.
  • Polkadot eyes its next target at the $23.11 resistance zone.

Polkadot might surprise critics with its today’s upward move. The alternative coin noted an over 6% increase on Wednesdays. DOT saw a bullish ride from the lows of $15.95 towards its current value zones of $18.95. Meanwhile, the optimistic move eyes the following resistance at $23.11.

Sellers controlled the altcoin since it hit the $20.22 level on 5 January. That had Polkadot on a downward move, hitting a 25-week low on Tuesday yesterday, hovering around the $16.10 level. Meanwhile, today’s push might take DOT high towards the obstacle at $23.11. Keep in mind that it is Polkadot’s previous support.

The global crypto market displayed impressive recoveries in today’s early session. Bitcoin experienced a 3% 24-hour increase, ascending past $37,000. That had the altcoin market on upward reactions, Ethereum gaining around 4% to explore the region at $2,500.

Meanwhile, Ripple hit 0.614 following its 3% surge as Cardano’s 1% increment had it reaching the $1.06 mark. Solana and Dogecoin led the top performers, surging 10% and 7%, respectively.

DOT/USD Daily Chart

Polkadot’s 24hr candle chart indicates price marching upward following a substantial fall that started on 17 January. The latest 6% upswing left DOT on a clear path towards $20 before navigating the obstacle at $23.11. DOT remains far from the critical 25- and 50-day EMAs of $20.22. That is despite the recent surge.

The token had to reclaim this level to authorize further upside. The Relative Strength Index saw an increase towards 32.58 during the past day. However, the indicator still displays a low market valuation for the token. Moreover, the Moving Average Convergence Divergence curve remains beneath the neutral zone while showing bearish lows.

DOT/USD 4Hr Chart

Polkadot’s 4hr timeframe analysis reveals the climbing RSI at 46.73, justifying the latest price increase. Meanwhile, DOT’s market valuation saw upticks in the near term.

That might see the crypto challenging the resistance at $20 during today’s session. While publishing this content, DOT trades bullishly around $18.60. Nevertheless, the governing bias in the market flashes sellers’ preference, as displayed by the oscillator.