- The DOT/USD price has decreased back to $28 in the last four hours.
- Polkadot price analysis is giving a bullish hint.
- Support is present at $26 level.
The latest Polkadot price analysis is going in a bullish direction. Though the price underwent decline during the last four hours, despite breaking upwards today. The bears have been at lead since the past week which is why a constant downtrend has been observed. Still, the chances are available for the buyers as overall the price has increased today. According to the four hours price analysis, the price is still going down which is not promising news.
DOT/USD 1-day price chart: Ongoing clash results in bulls claiming the dominant market position
The 1-day Polkadot price analysis is predicting a rise in price as the bulls are trying to make recovery after consistent loss. The price has moved up to the $27.76 level today which is encouraging for the buyers as the past week was highly unfavorable for them. The moving average (MA) value is standing on the $29 mark, above the current price as the dominating trend during the week has been bearish.
The volatility has increased by which we can presume that the future trends will again be bearish. The Bollinger band values have shifted as well as now the upper value is positioned at $38 and the lower value at $24.54. Lastly, the Relative Strength Index (RSI) score has moved up to 45.50 as well, which is still a neutral number.
Polkadot price analysis: Bears pull back price levels to $27.8 by opposing further gains
The bears have taken the advantage of the situation as the price decreased once again in the last couple of hours. The 4-hours Polkadot price analysis shows signs of bearish activity resuming back as the price dropped down to $27.8. The moving average value, on the other side, is also going low i.e. $27.688 because of the constant downtrend that lasted for the entire week. The crossover between SMA 20 and SMA 50 is further confirming the downturn.
The volatility has significantly decreased during the past four hours, which is why the Bollinger bands average is now at $27.76. The upper Bollinger band value, on the other hand, is now $29.30 while the lower value is $26.22. The RSI score is in the neutral range as it is recorded to be 47.3 at the time of writing.
The Technical Indicators chart for DOT/USD is favoring the bearish side as the number of selling indicators and buying indicators are telling us. There are 10 indicators standing on the selling level, seven on the buying level, and nine indicators on the neutral level.
The moving averages indicator, on the other hand, is giving a bearish signal as the bears have been leading since the past week. There are more indicators on the selling side i.e. nine as there are only five on the buying and one indicator is neutral. The Oscillators are almost going neutral as there are eight oscillators standing on the neutral mark, two on the buying, and only one on the selling mark.
Polkadot price analysis conclusion
The given 1-day as well as the 4-hours Polkadot price analysis is predicting that, despite the bullish up move of today, the price has decreased in the last eight hours which means that there is a strict chance of the bears returning back to lead in the future. The price is now at $27.8, which is a comparatively stable position if we compare it to its last week’s standing.
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