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Polkadot price analysis: DOT gains value at $4.52

Polkadot price analysis

TL;DR Breakdown

  • Polkadot price analysis shows a strong bullish trend
  • Resistance for DOT is present at $4.53
  • The support for DOT/USD is present at $4.48

Recent Polkadot price analysis shows that DOT has risen in value from $4.48 to $4.52 at the time of writing. Furthermore, there is a strong bullish trend for Polkadot with resistance present at around $4.53. The support for the pair stands at $4.48 and any dips below this level could provide an opportunity for traders to enter the market. The bulls have managed to escape through the bearish pressure, and green candlesticks have returned to the price charts. More buyers are entering the market and taking the price flow in the upwards direction. The price had been moving upward quite consistently since yesterday, and now it has reached the $4.53 range as the bulls are powering through.

Polkadot price analysis 1-day price chart: DOT bulls continue to fuel the uptrend

The one-day Polkadot price analysis is confirming the uptrend as the price can be seen standing on the $4.52 level after gaining 0.26 percent value during the last 24 hours. The todays market was in a bearish trend earlier but the bulls managed to take charge and push the market into an uptrend. The crypto asset has a trading volume of $92 million, which is very impressive for a decentralized finance (Defi) coin like Polkadot. Furthermore, the buyers look more confident in the asset as its price continues to surge higher despite occasional corrections. The market cap of Polkadot stands at $4.53 billion, and its dominance in the market is slowly increasing.

image 32
DOT/USD 24-hour price chart. Source: TradingView

The 10-day Exponential Moving Average (EMA) has crossed above the 50-day Simple Moving Average (SMA). The Relative Strength Index (RSI) is in a bullish zone, which indicates that there is buying pressure present in the market. MACD indicator also shows that buyers are continuing to gain momentum and the average true range (ATR) is at a low level which indicates that there won’t be any significant price fluctuations.

Polkadot price analysis 4-hour price chart: DOT gets ready to break through the $4.53 resistance

The 4-hour chart of Polkadot price analysis shows that the bulls are aiming for a breakout above the $4.53 level. The crypto asset is currently trading around the $4.524 mark, and any slight uptick in buying pressure can take it past this hurdle. A bullish crossover is also visible on the 4-hour chart, and this indicates that buyers have taken control of the market.

image 31
DOT/USD 4-hour price chart. Source: TradingView

The MACD line has moved above the signal line, indicating that buyers are gaining momentum. Furthermore, the RSI is in an overbought zone which shows that the buying pressure is quite strong at the moment. The 4-hour EMA is going up and down in a range, which suggests that the market is consolidating for a breakout.

Polkadot price analysis conclusion

The price levels have increased further today, as has been confirmed from the one-day and four Polkadot price analyses. The bullish candlesticks have reappeared on the price chart as the trends underwent a reversal. The price has increased to the $4.52 level after the bullish comeback. But, if the buyers’ support remains intact, there is a chance that the uptrend for the cryptocurrency may continue.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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