Polkadot Price Analysis: DOT/USD set to surpass the intraday highs

Chainlink Price Analysis

TL;DR Breakdown

  • Polkadot price analysis is bullish today.
  • DOT/USD is currently trading at $
  • Support for DOT/USD is present at $31.3.

The Polkadot price analysis is bullish for today, as the third day in a row of bearish momentum. Since December 21st, the coin has recovered swiftly and gained significant value over the previous few days. The market’s mood toward DOT/USD pair has improved significantly since it has returned to the $32 range, according to the positive momentum that is bullish.

The 1-day Polkadot price analysis shows that DOT is continuing its bull run, with the cryptocurrency valued at $32.4 as of writing. The crypto pair has seen a 7.6 percent rise in value over the last 24 hours. Since yesterday, the digital currency has appreciated more than 38 percent, which was made possible by a continuous upswing. Over the past seven days, the market capitalization increased by 7.86%, while trading volume rose by 68% for the same period, resulting in the market dominance of 1%.

The price of DOT/USD pair is volatile, and as the Bollinger bands continue to separate, the volatility will rise in the coming days. The upper band has been reached at $31.7, with the price trading above it, implying support for DOT; the lower band has fallen below $22.9, signaling a decline in demand. The mean average of the signal is currently located at $27.3. Index 56 shows a steep upwards curve for RSI (Relative Strength Indicator), which suggests buying pressure in the market.

DOT/USD four-hour price analysis: Recent developments

The Polkadot 4-hour price analysis demonstrates that the coin ran into some resistance after breaking through the previous high, with the price function being held from further upside around the $31.4 range for eight hours. Bulls succeeded in making a breakthrough, and the asset rallied strongly during the next four hours towards $32, where it is now.

Polkadot Price Analysis: DOT/USD set to surpass the intraday highs 1

On the 4-hour chart, DOT’s volatility is high because the Bollinger bands are widening. The upper band is at $32.6, indicating resistance for the coin, while the lower band is at $26.7. The average of Bollinger bands is $29.7. The moving average (MA) has climbed higher and now sits at $31.0, suggesting that there may be pressure from the bearish side as well as overbought indicators on December 26th when the price hit $28. DOT went into an overbought condition when it hit $28 on December 26th.

Polkadot price Analysis: Conclusion

Today, the Polkadot price analysis indicates that the coin is in a bullish trend. However, price fluctuations may slow down as the coin’s price function has surpassed $32, which is in bearish territory and extends up to the $33.7 level. We anticipate DOT to retrace a bit before breaking through this critical resistance level.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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