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Polkadot price analysis: DOT/USD bearish for the next 24 hours

Polkadot price analysis

TL;DR Breakdown

  • Polkadot price analysis predicts a bearish trend.
  • Resistance for DOT is present at the $17.8 level.
  • Support is present at $15.6 position.

The latest Polkadot price analysis is bearish, as the price function continues covering the downward slide for today. For the past few days, the bears have ruled supreme, and yet again, today’s trend favored sellers. In the last 24 hours, the coin’s value fell to $15.9 USD, implying that further declines are forthcoming if the downward trend continues.

Current support levels can be found at $15.6 position and if these levels are broken, then the coin is most likely to fall below $15.0.l.

The most likely scenario for the next 24 hours is the maintenance of current levels and if sellers don’t succeed in pushing the price below $15.6, then there might be a breakout towards either direction (most likely downwards).

DOT/USD 1-day price chart: A smooth downward trend for now?

The price of PolkaDot is predicted to decrease over the course of the day, according to one-day Polkadot price analysis. During the day, red candlesticks indicate a bearish trend for the market, as it drops to its lowest level in seven months at $15.9 at the time of publication.

The downward trend of the popular line is continuing, having last been broken in early April. This confirms the bearish wave that has now overwhelmed the bulls, which is now continuing to overpower them. Furthermore, the one-day price chart’s moving average (MA) value ($17.9) remains significantly above the price level, as the SMA ($15.3) also remains above the current price level of $15.9 USD, which serves as a stopping tool for potential ascending movements. These factors have led to a bearish prediction in the next few days for Polkadot price analysis, especially if it drops below $16.5 or at least below SMA value.Polkadot price analysis: Price drops to $15.9 low as DOT sheds another nine percent 1DOT/USD 1-day price chart. Source: TradingView

The volatility is climbing, which may lead to a rebound by the bulls, and future market trends could favor buyers. At present, the Bollinger bands’ upper limit is set at $23.1, with the lower boundary at $15.6, denoting support for the falling DOT price. The Relative Strength Index (RSI) has dropped to 42, indicating a bearish market.

Polkadot price analysis: Recent developments and further technical indications

The sellers may also benefit from this price analysis, as the price has plummeted dramatically in recent hours as the bears have been in control of the market for the last 16 hours. Currently, things are looking up for the sellers. In just four hours, the coin’s value has dropped past $15.9. As selling momentum has increased, the bears may make a last stand in the next few hours.

The most recent PolkaDot price analysis is bearish, as the price function continues covering the downward slide for today. In the last 24 hours, the coin’s value fell to $15.9 USD, implying that further declines are forthcoming if the downward trend continues.

Polkadot price analysis: Price drops to $15.9 low as DOT sheds another nine percent 2

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

The price is moving higher, but the volatility is also increasing, and the next few hours may make or break the cryptocurrency’s progress. The upper Bollinger band has now reached $18.4, while the lower Bollinger band has touched $15.8 on the downside. As a result of a strong bearish current that was observed in the Polkadot price analysis today for the cryptocurrency, bitcoin’s value also decreased to $8,035 USD at the time of publication.

Polkadot price analysis: conclusion

Today’s Polkadot price analysis is taken together, the recent developments of the DOT price analysis suggest where it may find support for the future. The price is predicted to decrease over the course of the day, according to one-day Polkadot price analysis. During the day, red candlesticks indicate a bearish trend for the market, as it drops to its lowest days PolkaDot price analysis are looking very bullish, looking at the charts it may be time to consider buying.

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.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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