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Polkadot price analysis: DOT travels high as bulls cause an upturn above $18.94

Polkadot price analysis Price travels high as bulls cause an upturn above

TL;DR Breakdown

  • Bullish wave carries price to $18.94.
  • Polkadot price analysis shows uptrend.
  • Support is strong at $16.67.

The latest Polkadot price analysis shows an increasing trend as the bulls regained their momentum in the last 24-hours. The past weeks proved crucial for cryptocurrency’s progress, as the price dropped to extreme levels. But now, it seems that the buyers are striving hard to recover their position, as the market value of DOT/USD has been raised to $18.94 today. The hourly price chart dictates similar progress, so further profit is on the way.

DOT/USD 1-day price chart: Cryptocurrency’s value upgrades to $18.94 high

The one-day Polkadot price analysis shows encouraging results for the buyers today, as a considerable improvement in its market value has been observed. The bulls are trying to overcome the bearish pressure, and their efforts have proved successful so far. The bullish momentum intensifies, and the price has traveled high to $18.94. The price is now standing quite closer to its moving average (MA) value as well, i.e., $20.49.

Polkadot price analysis: DOT travels high as bulls cause an upturn above $18.94 1
DOT/USD 1-day price chart. Source: TradingView

The area between the Bollinger bands is expanding, indicating that a downtrend might be coming ahead. Like so, the upper value of the Bollinger Bands Indicator is now standing at $30.22, and the lower value has moved down to $16.67 edge. The Relative Strength Index (RSI) shows the score in the 33.58 range, still critically close to the under-bought hedge.

Polkadot price analysis: Bullish trend resumes covering new heights

The four-hour Polkadot price analysis gives a strong bullish indication as the bullish momentum is getting stronger with each passing hour. Although there have been variations and fluctuations in the price trends due to bearish resistance, the past four hours still proved to be favorable for the bulls. Currently, the price shows $18.91 of figures, and further recovery seems near. The moving average value for the four-hour price chart is found to be at the $18.43 level.

Polkadot price analysis: DOT travels high as bulls cause an upturn above $18.94 2
DOT/USD 4-hours price chart. Source: TradingView

A crossover occurred between SMA 20 and SMA 50 curves which is a huge accomplishment for the bulls. As the volatility is increasing, the upper value of the Bollinger bands indicator is now $19.43, whereas its lower value is $16.78. The RSI graph shows an ascending curve, and the score is now touching a 49.57 peak.

Polkadot price analysis: DOT travels high as bulls cause an upturn above $18.94 3
DOT/USD technical indicators chart. Source: TradingView

The past few weeks have supported the sellers if we analyze the market situation from a general overview. This is why the technical indicators chart shows a selling signal for DOT/USD. Fourteen indicators are currently standing at the selling sign; nine are neutral, while only three are on the buying sign.

The Moving Averages Indicator is predicting a downtrend as well as the price was brought down exceptionally in the prior weeks. A total of 13 indicators settle at the selling position, while one indicator each sits on the neutral and buying positions. The Oscillators are giving out a neutral hint regarding the current price movements. A total of eight indicators are on neutral point; two are on buying point while only one is on selling point.

Polkadot price analysis conclusion

The one-day and four-hour Polkadot price analysis confirms an upward trend for the market, as the price has covered an increasing movement during the day. Although the circumstances were tough for the cryptocurrency in the preceding weeks, the current scenario seems to be turning favorable. The DOT/USD value is now $18.94 whereas, the hourly prediction shows similar results.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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