The price is going low according to the hourly and daily Polkadot price analysis. This is because the bears have managed to escape through the bullish momentum, and red candlesticks have returned to the price charts. More sellers are interrupting the price flow, and DOT is facing bearish resistance. The price had been moving upwards quite consistently, but now it has undergone a reduction to $33 as the bears are powering through.
The price is flowing downwards once again after the bears made a small comeback during the day. The one-day Polkadot price analysis is confirming the downfall as the price can be seen standing on the $33.43 level. The past week proved vital in improving the cryptocurrency’s value, but the trends have undergone a slight shift today. Also, if we talk about the moving average (MA) then it is standing at $32 level, quite close to the price.
The past week had observed a crossover between SMA 20 and SMA 50 which means that chances of recovery might resurface. Moreover, the Bollinger bands Indicator is dictating the following values for the day; the upper value at $35.4 and the lower value at $25.72. The Relative Strength Index (RSI) score has moved down to $25.72 as well.
The four hours Polkadot price analysis is predicting a bearish trend as the price has been constantly declining for the past few hours. The downtrend has been quite unexpected as the price was traveling safe earlier in the day. It has receded back to the $33.46 level which is slightly below the moving average level i.e. $33.62. Further decline in price can be expected as the bearish momentum is extending.
As the volatility has increased, the Bollinger bands average has reached the $32.35 position. Furthermore, the upper and lower values have changed as well; the upper Bollinger band is now at $35.3 whereas the lower band is at $29.40. The RSI curve is moving down as well as the score has reached 56.3, which counts in the neutral range.
As the price has been at its highest point since the past few months, the overall trend recorded has been bullish. We can see 16 indicators on the buying spot, nine indicators on the neutral spot, and only one indicator on the selling spot.
The moving averages indicator is confirming the bullish trend as well as the price has improved during the past weeks. There are a total number of 14 indicators that are standing on the buying position, one indicator on the neutral position while none is found at the selling position. The Oscillators are indicating a neutral trend, with eight oscillators on the neutral level, two on the buying level, and only one indicator left on the selling side.
The price has undergone a slight reduction today as has been confirmed from the one-day and fours Polkadot price analysis. The bearish candlesticks have reappeared on the price chart as the trends underwent a reversal. The price has been lowered till the $33.43 level after the bearish comeback. But, if the support remains strong at $25.72, there is a chance that the former uptrend may resume.
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.
This post was last modified on October 8, 2021 2:11 pm
TL;DR Breakdown Northern Data reveals that it made up to EUR 220M revenues by November.The… Read More
Crypto wallets enable crypto users to send, receive, and store their digital assets/currencies. Once a… Read More
TL;DR Breakdown GXChain price analysis is strongly bullish today.Selling pressure was observed at the $4.6… Read More
TL; DR Breakdown Saxo Bank predicts the rise of NFT music platforms in 2022NFT music… Read More
TL;DR Breakdown Solana price analysis is bearish today.The resistance is present at $238.Support for SOL/USD… Read More
TL;DR Breakdown The Polygon price analysis is bullish today.Resistance for MATIC is present at $2.13.Support… Read More