- The polka dot price analysis shows a price increase.
- The DOT/USD market is bullish today.
- Currently, resistance is present at $31.7.
The Polkadot price analysis is showing DOT bulls are in the lead today. As the market opened up, bulls started gaining strength and took the price up to the $31.7 level, where DOT met resistance and bears gained charge for a few hours and dropped back the price to $30.77.
The Polkadot price analysis further shows DOT/USD gained a value of six percent in the last 24 hours. The price swung as high as $32.55 to as low as $29.99 today, but overall, bulls are in the lead, and currently, DOT/USD pair is trading at $31.45 at the time of writing. Still, the Polkadot is at the loss of five percent if we look at the course of the last seven days.
DOT/USD 1-day price chart: DOT got rejected from $31.7
The 1-day price chart for Polkadot price analysis shows a six percent increase in price today. The DOT bulls are trying hard to break past the resistance of $31.7 as a bullish crossover seems to be taking place as the moving average is traveling below towards the price level showing reasonable indications for the cryptocurrency.
The volatility is relatively high and still increasing as Bollinger bands widen slightly, with the upper band present at $35 and the lower band present at the $22 level. The average of Bollinger bands is at $29 below the price, and the moving average (MA) is also traveling down towards price level, as said earlier. The relative strength index (RSI) is on the uptrend and shows a score of 57.
DOT/USD 4-hours analysis: DOT leveraging the hourly support of $29.7
The 4-hours Polkadot price analysis chart shows the bulls are trying to maintain the lead as the hourly support of $29.7 seems good enough at the time. The day started with a jump start of six percent for the bulls but bears provided resistance and took over for some time, but bulls regained the momentum again and are on the go.
The volatility is still high but decreases as Bollinger bands are narrowing down in the present hours, with the upper end of Bollinger bands at $33.5 and the lower end at $24.9. The moving average is at the $29.9 mark, and the Bollinger bands average is at the $29.2 mark, both averages below the current price level. The relative strength index (RSI) is moving up slowly and is at a score of 54 in the upper half.
The technical indicators for the Polkadot price analysis are also reflecting a bullish momentum. Out of the total 26 technical indicators, 15 show a buy signal, and only three show a sell signal, whereas eight are neutral.
The moving averages are also strongly on the buying side, with 13 indicators on the buy sign and only one on the sell sign while one is standing neutral. The oscillators are totally neutral, with seven indicators at the neutral sign and two each at buying and sell signs.
Polkadot price analysis: Conclusion
The 1-day and 4-hours Polkadot price analysis shows a medium bullish trend for today with clear signs of bearish shadows, but bulls are in reign at the moment. Further down the time today, the price movement will take shape as market players act; if the overall moving average came below the price level, then bulls may succeed in carrying the lead, and if the moving average hovered above the price level, then bears may stretch the leg and take LTC further down to the support level of $29.7.
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