Polkadot News

Polkadot price analysis: Bearish slide brings DOT value down to $39.69

TL;DR Breakdown

  • Price has declined up to $39.69 level.
  • Polkadot price analysis confirms bearish trend.
  • Support is found at $39.02 today.

The Polkadot price analysis is confirming a bearish trend for the day as a decreasing price movement has been observed. Bears have been leading the market for the past few weeks, and the price has been dropping at a consistent rate. The bulls have failed to make a comeback as the bears have been maintaining their lead quite proficiently. Today, the price has moved down to $39.69 as a result of the bearish pressure.

DOT/USD 1-day price chart: Cryptocurrency devalues up to $39.69 mark after downtrend

The one-day Polkadot price analysis is giving a bearish prediction for the day as the price has moved down. The price has been following a declining trend for the past few weeks, and the cryptocurrency has been under constant loss. The bullish momentum has not been recovered as a downward trend was observed during the last 24-hours as well. The price is now touching the $39.69 low, which is quite lower than the moving average (MA) value i.e. $44.64.

DOT/USD 1-day price chart. Source: TradingView

A crossover between SMA 50 and SMA 20 took place during the previous weeks as well which is yet another sign of a bearish win. The increase in volatility has changed the upper Bollinger band value to $56.62 and the lower Bollinger band value to $39.02. The Relative Strength Index (RSI) score has dropped down to 38.97.

Polkadot price analysis: Trends take unexpected shift as price returns to $39.697

The price has been traveling low for the past few hours as the bears have gained the dominant position on the price chart. The price has been lowered to $39.69 today as the bearish momentum has been intensifying. The last four hours thus proved unfavorable for the cryptocurrency once again, as more selling activity has been detected. The moving average value in the four hours price chart is found at $41.3 position.

DOT/USD 4-hours price chart. Source: TradingView

The Bollinger Bands average has decreased in the last four hours as well and it is now at $42.19. The upper value of the Bollinger Bands Indicator is $46.22 whereas their lower value is $38.16. The RSI score has moved down to 35.20 as the price has been constantly undergoing a decline.

DOT/USD technical indicators chart. Source: TradingView

The technical indicators chart for DOT/USD is giving out a bearish signal as the price has been following a decreasing trend for the past few months. There are 12 indicators settled on the selling position, 10 indicators are on the neutral position and only four indicators are on the buying position.

The Moving Averages Indicator is favoring the sellers as well by giving out a bearish hint. A total of 10 indicators are on the selling side, four indicators are on the buying side and only one indicator is on the neutral side. The Oscillators are confirming the negative trend as nine indicators are on the neutral level, two indicators are on the selling level while zero indicators are on the buying level.

Polkadot price analysis conclusion

The price has decreased up to $39.69 today as the bears have been leading the game for the past few weeks. Today, a decreasing trend has been observed as well as the price has covered downward movement. The hourly prediction is showing favorable results for the bears as well because of the devaluation in price.

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 November 18, 2021 5:22 pm

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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