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Polkadot price analysis: DOT/USD engulfed in bullish momentum at $27

DOT

TL;DR Breakdown

  • Polkadot price analysis is bullish today.
  • The strongest support is present at $25.3.
  • The strongest resistance is present at $30.9

The Polkadot price analysis for January 15, 2022, reveals that the DOT/USD is following a colossal bullish trend; the price has increased uniformly for the past few days. On January 13, 2022, the cost of Polkadot declined from $27.5 to $25.7, and it changed its momentum, and the next day, the price increased from $25.7 to $27.8. On January 15, 2022, DOT maintained a bullish momentum with a slight decline causing the price to drop slightly. The current price of DOT/USD is $27.4

DOT/USD 4-hour price analysis: bullish momentum with bearish opportunities

The Polkadot price analysis indicates that the market’s volatility follows a somewhat declining trend, making the Polkadot prices less vulnerable to experience volatile change on either extreme. The upper limit of the Bollinger’s band is present at $27.9, which represents the strongest resistance for DOT. Conversely, the lower limit of the Bollinger’s band is present at $25.3, which serves as the strongest support for DOT.

The DOT/USD appears to be crossing over the curve of the Moving Average, implying a bullish movement. Furthermore, the DOT price seems to be moving in a strong upwards trend; with the volatility decreasing, the price will soon meet the upper limit of the Bollinger’s band and might even cross over it, causing the market to experience which will likely cause a breakout.

Polkadot price analysis: DOT/USD engulfed in bullish momentum at $27 1
DOT/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 52, indicating that the cryptocurrency falls in the upper neutral zone. The RSI score appears to be decreasing, signifying a dominant selling activity compared to the buying activity. The bears are making moves against the bulls causing the RSI score to drop. This will lead to a decline in terms of DOT/USD prices.

Polkadot Price Analysis for 1-day: Market tightens

The Polkadot price analysis reveals the market’s volatility following a declining direction. This means that the price of Polkadot is less likely to undergo variable change. The upper limit of the Bollinger’s band is present at $30.9, which serves as the strongest resistance for DOT. Conversely, the lower limit of the Bollinger’s band is present at $23.2, which represents the strongest support for DOT.

The resistance and support bands appear to be closing the gap between them, signifying a squeeze in the market. This will likely result in a massively volatile market in the coming days.

The DOT/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. With the market’s volatility on the down-low and the direction of the market being bullish, we might be seeing a future increase in the price with chances of a reversal.

Polkadot price analysis: DOT/USD engulfed in bullish momentum at $27 2
DOT/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is at 50, which indicates that the assets are showing no signal; they’re not on neither of the two extremes. DOT/USD price offers stability as the RSI score remains dormant; this indicates the buying activity equalling the selling activity.

Polkadot Price Analysis Conclusion

The conclusion of the Polkadot price analysis shows that the recognition made in the current behavior of the cryptocurrency indicates that it is following a smooth upward trend with the possibility of reaching $28 soon. DOT/USD climbed with relative ease at the $27 mark.

Chart analysis shows bullish dynamics with possibilities of a reversal. Polkadot quickly entering the $28 mark range is anticipated. This depends on the volatility of the support; if current support fluctuates, we may see a decline in the current price. However, that is not a very likely scenario if we take the recent observations and the market facts into account.

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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