DOT price (Polkadot) looks set to break above $10 and rebound further

After forming a base above $7.50, the DOT price began to rise steadily. It has risen by more than 25% in a few days, sometimes even surpassing Ethereum and Bitcoin.
A clear break above the $8.50 and $8.80 resistance levels. The price is even close to the $10.00 level. Long weekly highs are forming near $9.89 and prices are now consolidating gains. Its gains held above the 23.6% Fib retracement level from the $8.57 Fluctuation low to the $9.89 high.
DOT IS CURRENTLY TRADING ABOVE THE $9.00 AREA AND THE 100 SIMPLE MA (4-HOUR). A key bullish trend line has also formed on the 4-hour chart of the DOT/USD currency pair, with support at $9.20. The trend line is close to the 50% Fib retracement level of the upward trend from the $8.57 Fluctuation low to the $9.89 high.
The immediate resistance is near $9.85. The next major resistance is near the $10.00 level. A successful break above $10.00 could trigger another strong rebound. In the above scenario, the price could easily rise to $12.00 in the short term. The next major resistance is near the $13.50 area.
If the DOT price fails to start a new round of rally above $10.00, a downward correction may begin. The first key support is located near $9.50.
The next major support is near the $9.20 level, below which the price could drop to $8.80. Any more Long losses could open the door towards the $8.50 support zone.
Technical Indicators
4 Hour MACD – The MACD of DOT/USD is currently gaining momentum in the bullish zone.
4-hour RSI (Relative Strength Index) – The RSI of DOT/USD is currently above the 50 level.
Major support levels – $9.50, $9.20, and $8.50.
Major resistance levels – $9.85, $10.00, and $12.00.
(Source: Aayush Jindal)