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Polkadot price analysis: Price devaluates up to $18.48 mark after bearish slide

Polkadot price analysis Price devaluates up to mark after bearish slide

TL;DR Breakdown

  • Coin value downgraded up to $18.5.
  • Polkadot price analysis shows downtrend.
  • Support is quite stable at $14.04.

The latest Polkadot price analysis shows a relatively bearish trend as the sellers ruled the market during the day. The coin value has been reduced up to $18.48 low, and further devaluation is quite evident in the next few days. The selling momentum is rapidly increasing, which is a negative sign for cryptocurrency. If the current trend resumes, chances of further drop are to be expected in the future.

DOT/USD 1-day price chart: Bearish swing lowers price to $18.48 boundary

The daily Polkadot price analysis predicts a decreasing trend for the market today, as the bears have been at the leading position. The price took a downturn a few days ago, and currently, the circumstances are going in favor of the sellers. The coin value has receded past $18.4 due to the latest bearish strike. A further degree of decline is to follow soon if more selling activity occurs. The moving average (MA) value for the one-day DOT/USD price chart is $18.63.

Polkadot price analysis: Price devaluates up to $18.48 mark after bearish slide 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is declining, which indicates that future market trends might turn out to support cryptocurrency buyers. If we discuss the Bollinger bands indicator’s values, the upper band is touching $27.37 edge whereas the lower band is at $14.04 low. The Relative Strength Index (RSI) score has dropped down to 36.03 due to the downward tendency shown by the price.

Polkadot price analysis: DOT/USD value steps up to $18.46 after revival

The four-hour Polkadot price analysis confirms an increasing trend for the market, as the bulls managed to make a comeback in the past few hours. The bulls and the bears have constantly been interchanging the leading position, but now the bulls seem to be on the upper hand. The cryptocurrency value is now $18.46, and buying momentum is expected to get stronger. The price is still standing at a lower height than its moving average value, i.e., $19.08.

Polkadot price analysis: Price devaluates up to $18.48 mark after bearish slide 2
DOT/USD 4-hour price chart. Source: TradingView

The volatility is relatively decreasing, which means that the future price movement might be bullish. If we move towards the Bollinger bands indicator, its upper band is resting at $20.64 while its lower band is present at $17.83. The Bollinger bands average improved up to $19.23, whereas the RSI score has climbed up to $44.55.

Polkadot price analysis: Price devaluates up to $18.48 mark after bearish slide 3
DOT/USD technical indicators chart. Source: TradingView

The selling trend has been occupying the market for the past few weeks, as evident from the above technical indicators chart. There is a bearish signal on the display as 14 indicators are in the selling position, ten are neutral, and only two are found on the buying side.

A similar hint is being given by the moving averages indicator, as it is displaying s strong selling signal for the market. Fourteen indicators are on the selling point; one indicator is neutral, whereas no indicator is present on the buying point. On the opposite side, the Oscillators predict an uptrend for the day as nine indicators rest on the neutral position two on the buying. In contrast, zero indicators are spotted on the selling point.

Polkadot price analysis conclusion

The daily as well as hourly Polkadot price analysis, is giving predictions in favor of the bears. The price covered a downward movement in the past 24-hours, and the coin value dropped down to $18.48. However, the four-hour price analysis shows that the bulls have taken control of the market. A green signal is being given by the four-hour price chart, which means that the price went higher in the past few hours.

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.
Aamir Sheikh

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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