- The price has decreased up to $40.983.
- Polkadot price analysis indicates drop.
- Support is sufficiently strong at $24.55.
The Polkadot price analysis shows the cryptocurrency is undergoing loss once again as the price dropped down in the last 24-hours. The price has been climbing as per the price chart since the past week quite swiftly, with minimal bearish interruptions. The bullish momentum also helped the price cross the resistance present at $40.397 as well. But now a slight shift in the trends has been reported as the price declined up to $40.98 today.
DOT/USD 1-day price chart: DOT price hangs down below $40.98 after red signal
The one-day Polkadot price analysis is showing a bearish trend as the bullish curve has bent down to $41. Although an upswing has been at its peak since the past week, today’s trend has proved different as the price has encountered a downfall. The short-term trending line is also indicative of a bullish trend, but the coming week might bring a different situation. If we talk about the moving average (MA) value, then it is set at $35.8 at the present.
The volatility has increased on a great scale indicating that a downward trend may presume in the future. The Bollinger bands indicator also stands relevant in making the correct predictions, and its upper value is at $40.39 and the lower value is at $24.55. The Relative Strength Index (RSI) score has decreased up to 67.14 as well.
Polkadot price analysis: Bearish momentum causes price to return to $40.985
The price levels are receding down once again as the bearish candlesticks have returned to the price chart. This is indicative of a downtrend, as the price has been lowered down to $41 in the last four hours as well. The uptrend had been quite strong previously as the price managed to escape the $42 barrier. But now the market is going through loss again as DOT has been devalued. The price is still above the moving average value which is sitting at the $39.23 position.
The Bollinger band average is currently standing at $39.23 position after the increase in volatility. Whereas now, the upper Bollinger band is at $43.22 and the lower Bollinger band is at $29.6. The RSI score is still going high and is present at 68 level at the time of writing.
Overall the progression of the cryptocurrency has been considerable which is why the technical indicators chart is going bullish. There are a total of 16 indicators standing on the buying position, eight indicators on the neutral position with only two indicators left on the selling position.
The moving averages indicator is showing a strong bullish signal as well as the coin value has improved in the past few months. There are 14 indicators present on the buying position, with only one indicator on the neutral and zero present on the selling position. The Oscillators are giving a neutral indication as we can see seven indicators on the neutral point, with two indicators each present on the selling and buying points.
Polkadot price analysis conclusion
The price has decreased during the last 24-hours as the bears have made a comeback. Right now, it is at the $40.98 position after going through a loss. A further drop in price can be estimated as the hourly predictions are giving the bears the lead as well. The price has been constantly declining since the past few hours as confirmed from the four hours Polkadot price analysis.
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