- Our Polkadot price analysis suggests bullish signals in the next 24-hours
- DOT/USD continues into $35 support
- DOT is set to test higher lows today
Our Polkadot price analysis suggests bullish signals in the next 24-hours of candlesticks after the coin retested the $35 minor support and is currently attempting to consolidate enough strength to sustain the $30 – $39 price level. Therefore, we are looking forward to an uptrend in the course of the day where Polkadot could build another support at $38 and enjoy a continuation to $40.
The overall cryptocurrency market trades bullishly, with market leaders BTC and ETH gaining more than 2.5 percent in the last 24 hours, Solana emerging the best performer after a 20 percent gain and ADA increasing by 3 percent.
Polkadot price movement in the last 24 hours: Polkadot still breaks through $35
According to our daily Polkadot price analysis, the DOT/USD underwent a tight daily range of $33 – $35.5 over the last 24-hours. Trading volume increased by 30.50 percent on the daily chart and raked over $2.314 billion. Coin Market Cap data indicated a total market capitalization of $34.7 billion after a 2.93 percent improvement. Polkadot is ranked position #9 overall among the top ten altcoins by market cap.
DOT/USD 4-hour chart: DOT ready to reverse again?
On the 4-hour Polkadot price analysis chart, we see the Polkadot price action advocating for another push higher on the 24-hour chart.
Polkadot price has undergone rapid bullish momentum over the past month. From the previous July swing low of $10.5, DOT/USD has gained more than 250 percent to the $35 mark.
However, buyers failed to attain higher gains and, after a several-day consolidation, DOT reversed. After a drop of 15 percent, support was found above $29.40, and later the coin would reverse once again above $30.
The $30 support has since been retested multiple times, with the $29 mark acting as seller resistance. With the last one seen yesterday on the 2-day chart. As long as the support holds, we can expect the Polkadot price to reverse later today and quickly advance to $38.
Polkadot Price Analysis: Conclusion
Our 24-hour Polkadot price analysis is bullish and indicates positive signals above $35. We are expecting the coin to prepare for further upsides as the DOT/USD rallies higher and higher in the second week of September. You can read some of our articles as you wait for a retracement in the next 24-hours, Decentralized Exchanges, Wrapped Bitcoin as well as NFT Marketplace.
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.