Polkadot price analysis: Price surmounts $21.72 top after bullish stream

Polkadot price analysis Price surmounts top after bullish stream

TL;DR Breakdown

  • Price is now settling at $21.72 high.
  • Polkadot price analysis shows uptrend.
  • Support is present at $15.22 extreme.

The latest Polkadot price analysis is bullish as the price covered an upward movement during the day. The bulls have been occupying the leading position for the past few days, and today the trend lasted in favor of the buyers once again. The coin value heightened to $21.72 in the past 24-hours, and a further increase is expected if the buyers remain persistent. On the other hand, the hourly price chart is in support of the sellers.

DOT/USD 1-day price chart: Bulls remain successful in crossing $21.72 resistance

The one-day Polkadot price analysis predicts an increasing trend for the cryptocurrency as the coin value levels up during the day. Green candlesticks mark a bullish trend for the market, as the price accomplished its $21.72 target. The short-term trending line is now moving ascendingly, which further confirms the bullish wave that is now overpowering the bears. Furthermore, the moving average (MA) value in the one-day price chart settles at the $19.35 level.

Polkadot price analysis: Price surmounts $21.72 top after bullish stream 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is decreasing, indicating that the future market trends are more likely to turn out in favor of the buyers. Moreover, a crossover between the SMA 20 curve and the SMA 50 curve is expected in the upcoming days, which is a bullish sign. The Relative Strength Index (RSI) score has moved up to 51.07 due to the latest upside.

Polkadot price analysis: Price takes a downturn at $21.7 as bears fight back

The hourly price prediction for DOT/USD supports the bears as the price underwent a sudden decline in the past few hours. Although the bulls were controlling the market in the previous hours, currently, the circumstances are going in favor of the sellers. As the selling momentum intensifies, the coin value has receded past $21.67 in the last four hours. The moving average value in the hourly price chart is standing on the $20.94 mark.

Polkadot price analysis: Price surmounts $21.72 top after bullish stream 2
DOT/USD 4-hour price chart. Source: TradingView

On the other side, the volatility is increasing, which is a negative hint, and the next few hours can prove critical for the cryptocurrency’s overall progress. The upper Bollinger band, thus, is now standing at $22.31, while the lower Bollinger band is touching the $17.20 edge. The RSI score is quite close to the over-bought limit, i.e., 69.02, as a strong bullish current was observed in the previous hours.

Polkadot price analysis: Price surmounts $21.72 top after bullish stream 3
DOT/USD technical indicators chart. Source: TradingView

The technical indicators chart for DOT/USD predicts a neutral trend as there has been a constant fluctuation in the price movement for the past few weeks. Nine indicators are present on both the selling and neutral points, while eight are there on the buying point.

However, the Moving Averages Indicator gives a signal in support of the sellers as the bears have been dominating in the preceding weeks. Eight indicators are sitting on the selling position, six are on the buying, whereas only one is on the neutral position. The Oscillators are again giving a neutral hint regarding the ongoing market trends. Eight oscillators are on the neutral side, two are on the buying, while only one indicator is on the selling side.

Polkadot price analysis conclusion

The daily and hourly Polkadot price analysis predicts an upward trend for cryptocurrency today. The price has reached $21.72 height after the latest bullish wave. Chances of further uptrend seem near as the buying momentum is continuously intensifying. However, the hourly price chart shows a downtrend as the last four hours recorded a price drop.

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.

Related News

Hot Stories

Ripple price analysis: Bullish momentum helps elevate XRP price to $0.3882
Luxembourg expands PayPal operations to cryptocurrencies
Metacade Presale for Web3’s First-Ever P2E Crypto Arcade Raises Over $670k in Under 2 Weeks
Ankr Price Prediction 2023-2031: Will the ANKR price go up?
Bitcoin, Ethereum, Filecoin, and ApeCoin Daily Price Analyses – 7 December Roundup

Follow Us

Industry News

Luxembourg expands PayPal operations to cryptocurrencies
Grayscale Investments slammed with a lawsuit as GBTC plunges
Taylor Swift's $100M partnership with troubled FTX ended prematurely: Reports
Iran plans to freeze bank accounts for women without hijab
Revealed: the top-5 token Holdings of Alameda

Add Your Heading Text Here