- Polkadot price analysis is bullish today.
- DOT/USD saw further highs yesterday.
- Slight retracement earlier today set a higher low.
The price of Polkadot is up today as a higher low has been established today, following yesterday’s $46 landmark. As a result, we anticipate DOT/USD to rise even further later today.
Polkadot price movement in the last 24 hours: Polkadot sets new high above $44
In the last 24 hours, DOV/USD traded in a range of $41.35 to $43.99, showing some volatility over that period. Trading volume has increased by 39%, and the market capitalization is around $43 billion, putting it in 8th position globally.
DOT/USD 4-hour chart: DOT retraces to $43 before further upside follows?
On the 4-hour chart, we see that the price action for Polkadot has somewhat retraced, with bulls readying to push higher above $46.DOT/USD 4-hour chart. Source: TradingView
The price of Polkadot has seen significant bullish momentum in recent weeks. After a strong rally began at the end of July, DOT/USD reached a high peak of $30 in August.
The price of Ether rose to $40 on September 7, after which it began a period of consolidation before continuing higher. On the first of October, the market rallied strongly again.
The Polkadot price increased rapidly, reaching $43 on May 17. The following week, slightly higher highs were set until the $46 mark was achieved on Friday. Since then, DOT/USD has retreated and established a stronger lower low, from which to rise later this week.
Polkadot Price Analysis: Conclusion
Today’s price analysis of Polkadot is bullish as a higher low has been established after the $46 mark was achieved yesterday. As a result, we anticipate DOT/USD to continue rising today, with the main barrier at $49.