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Polkadot price analysis: DOT/USD stagnates below $30 with bearish decline

DOT

TL;DR Breakdown

  • Polkadot price analysis appears to be bearish.
  • The strongest resistance is at $39.
  • The strongest support is at $23.7.

The Polkadot price analysis for December 15, 2021, is that the Polkadot market appears to have been experiencing a bearish trend for the past couple of days; the price for Polkadot is currently at $24.6. On December 14, 2021, the price reached$26 just before declining to $25 the same day; on December 15, 2021, it fell to $24. The market trend has remained bearish for some while now, and the devaluation of assets continues.

DOT/USD 4-hour price analysis: Market engulfed in strong bearish dynamics

The Polkadot price analysis points out that the momentum of volatility is increasing rapidly, which could lead to a change in trend and significantly increase unpredictability. The upper limit of the Bollinger’s band is $29.7, which is also the strongest resistance and the lower limit of the Bollinger bands rests at $23.7, which is the strongest support. The DOT/USD price appears to be moving under the Moving Average curve, signifying a bearish movement.

Polkadot price analysis: DOT/USD stagnates below $30 with bearish decline 1
DOT/USD 4-hour price chart source: Trading view

The Polkadot price prediction also reveals the Relative Strength Index (RSI) to be 33, which means the assets fall headfirst into the undervalued extreme. The market trend is bearish, and the volatility rapidly increasing could lead to a change in the market’s movement. Still, the RSI indicates that the most likely scenario is that the assets will be further devalued.

Polkadot price analysis: DOT/USD remains bearish at $27

The Polkadot price analysis for 1-day shows that the market volatility is almost dormant, which means the price of Polkadot will remain stable for the time being. The upper limit of the Bollinger’s band is at $39, which is the strongest resistance and the lower limit of the Bollinger’s band is at $22, which is the strongest support. The DOT/USD price is seen to be moving below the curve of the Moving Average, indicating a bearish trend.

Polkadot price analysis: DOT/USD stagnates below $30 with bearish decline 2
DOT/USD 1-day price chart source: Trading view

The Polkadot price analysis reveals that the Relative Strength Index is at 31. This means that the assets are severely undervalued and that the bears are dominating the market all the way. The market’s volatility is almost dormant with a bearish trend, indicating that the bears will remain strong and keep dominating the market for as long as they can.

Polkadot Price Analysis Conclusion: Bearish domination continues

The conclusion of the Polkadot pricing forecast shows that the observations made on the current behavior of the cryptocurrency underdog show that it is following a trend of decline. DOT/USD struggles the $30 mark; the price reached $ 29.9 on December 13, 2021.

Chart analysis shows bearish strength. It is predicted that Polkadot may be further reduced if the bears continue to dominate the market, which is looking like the possible scenario right now. If the bears keep conquering the market, we could see the price drop as far as $20.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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