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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 bullish trend.
  • Resistance for DOT/USD is present at $17.8.
  • Support is present at the $15.4 level.

The Polkadot price is currently sitting at $16.14, up 3.06% in the past 24 hours. The cryptocurrency has seen a turbulent past few weeks, with prices reaching highs of over $18 and lows of just over $14. However, it would appear that the market has found some stability, with the Polkadot price bouncing between $15 and $17 in recent days.

Looking at the technical indicators, it would appear that the market is currently bullish. The RSI is currently sitting at 57.72, indicating that there is still some room for growth. The MACD is also trending upwards, indicating that the market is bullish.

Looking at the resistance levels, the first major level of resistance is at $17.8. A break above this level could see prices reaching $20 or even higher. The second major level of resistance is at $21.6.

Looking at the support levels, the first major level of support is at $15.4. A break below this level could see prices falling to $12 or even lower. The second major level of support is at $10.2.

Overall, it would appear that the market is bullish and that prices could reach new highs soon. Those wishing to invest in Polkadot should watch the $17.8 and $21.6 resistance levels.

On the downside, support is present at the $15.4 level, and if the bears manage to break this support, then the price could fall as low as $12.

Overall, the current trend looks bullish, and investors should consider buying DOT tokens in anticipation of future price increases.

DOT/USD 1-day price chart: Bulls retake the reins, resistance at $17.8

The Polkadot (DOT) price has been on an upward trend for the past few days, with the cryptocurrency reaching a high of $18.14 on September 10. The market has since retraced to the $16.14 level; however, it would appear that the bulls are still in control.

Polkadot price analysis: DOT/USD bearish for the next 24 hours 1
DOT/USD 1-day price chart. Source: TradingView

On the downside, support is present at the $15.4 level, and if the bears manage to break this support, then the price could fall as low as $12. Overall, the current trend looks bullish, and investors should consider buying DOT tokens in anticipation of future price increases.

Polkadot 4-hour chart: Recent developments

The 4-hour Polkadot price analysis chart shows that the market is currently bullish, with the RSI (relative strength index) reaching a high of 54.37.

Polkadot price analysis: DOT/USD bearish for the next 24 hours 2
DOT/USD 4-hours price chart. Source: TradingView

The RSI is currently sitting at 53.14, indicating that there is still some room for growth. The MACD is also trending upwards, indicating that the market is bullish.

Looking at the resistance levels, the first major level of resistance is at $17.8. A break above this level could see prices reaching $20 or even higher. The second major level of resistance is at $21.6.

Looking at the support levels, the first major level of support is at $15.4. A break below this level could see prices falling to $12 or even lower. The second major level of support is at $10.2.

Polkadot price analysis conclusion

Polkadot price analysis predicts a bullish trend for the coin, with resistance at $17.8 and support at $15.4. The bulls need to break through the resistance to push the price upwards, while the bears need to break through the support to send the price downwards.

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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