- DOT/USD is trading bullishly on the 24-hour Polkadot price analysis
- DOT/USD recorded substantial upsides today
- DOT/USD traded in a range of $35. – $37, indicating high volatility over the last 24 hours.
Polkadot price analysis: General price overview
On the previous day’s Polkadot price analysis chart, Polkadot followed a positive trend. However, solid selling pressure when the daily price analysis chart was established halted the prices from rising further to their lowest level on the daily price analysis chart at $35.4.The bulls appeared to be drawing up a plan for an assault that would reverse the current downtrend. The bulls congregated in large numbers and amassed enough strength to establish sturdy backing, which reversed the bearish trend and drove the DOT/USD to rise.
Polkadot price analysis chart is positive today since both a high and low were established over the previous 24 hours. As long as the $34 support holds, we anticipate DOT/USD to rise and move higher.
The buyers are battling back for the lead as the price of Polkadot continues to rise, according to the 1-day Polkadot price analysis chart. The DOT/USD market has been very volatile this past week; however, the coin continues to drop momentum.
Cryptocurrency heat map. Source: Coin360
The general cryptocurrency market is bullish, as the heat map suggests. The most prominent digital currency BTC has recorded a 0.83 percent increase, and the coin is trading at $47.9K. Its all-time close competitor ETH is also bullish, it has also recorded a slight percent increment, and it is currently trading at $3.5K. Altcoin, like the meme coin, continues to bleed. This week has been generally bearish to most of the altcoins and the cryptocurrency market in general. Even though some altcoins are trading in a bearish manner, others have recorded massive gains in the last 24 hours; MTL tops the list of gainers with a 66 percent gain. Polkadot is trading at a loss of -0.4 on the dial cryptocurrency heat map.
Polkadot price movement in the last 24 hours: Polkadot sets higher low at $35
DOT/USD traded in a range of $35. – $37, indicating high volatility over the last 24 hours. Trading volume has decreased by 2 percent and totals $2.2 billion, while the total market cap trades around $36 billion, ranking the coin in 8th place overall.
DOT/USD 4-hour chart: DOT starts to rally
On the 4-hour price analysis chart, bulls seem to have outnumbered the bears. Bulls’ comeback appears to be strong enough, and it will lead to a significant surge of the DOT/USD pair.
DOT/USD 4-hour chart. Source: TradingView
Over the last 30 days, Polkadot price action has made significant progress. The coin rose from its $10.5 support and increased by around 175 percent until it hit resistance at $29.
The price of the DOT/USD pair has been falling for days after breaking through the $29 barrier, plummeting 18 percent on Tuesday. The first support was established at $28.0, but another drop to $25.5 yesterday showed that more loss is possible.
Polkadot Price Analysis: Conclusion
The price of Polkadot is expected to rise as bears begin to retreat in the next 24 hours, according to our Polkadot price forecast. As a result, we are expecting DOT/USD to resume its positive trend line and target $39 resistance.
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