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Polkadot price analysis: Bullish stream continues to re-attempt $18.7 resistance

Polkadot price analysis Bullish stream continues to re attempt resistance

TL;DR Breakdown

  • Polkadot price analysis shows a bullish trend.
  • DOT price has increased up to $18 level.
  • Support for DOT is present at $17.2 position.

The most recent Polkadot price analysis shows a bullish trend for the cryptocurrency as the bulls have been in the leading position for the last 24-hours. Although a bullish wave has been controlling the price trend for the past four days, yet, today’s trend proved relatively in support of the buyers again. The DOT/USD value currently sits at $18.07, and a further increase in coin value can be expected if the bulls remain consistent. The current bullish episode has brought good relief for the coin during the greater bearish cycle.

DOT/USD 1-day price chart: The ascending curve confirms a bullish trend

The daily Polkadot price analysis predicts an upward trend for the market as the buying momentum has returned after a correction today. The bulls have successfully tackled the unfavorable circumstances as the bearish current has been disrupted. The price is now at $18.07, and further improvement is to follow if the buying activity experiences a further rise. Moving on towards the moving average (MA) value, which is $17 for the one-day price chart, just below the price level.

Polkadot price analysis: Bullish stream continues to re-attempt $18.7 resistance 1
DOT/USD 1-day price chart. Source: TradingView

A crossover between the SMA 20 curve and the SMA 50 curve can also be expected in the next trading session, as now it seems that the trends are shifting towards the buyers’ side. The volatility is decreasing but still a little high comparatively, which is a relatively negative indication of upcoming market trends. The upper Bollinger band value is now $21.7 representing the resistance for DOT, whereas the lower Bollinger band value is $15 representing the strongest support for DOT/USD. The relative strength index (RSI) is trading at index 46, but the indicator is not showing any major changes.

Polkadot price analysis: Recent developments and further technical indications

The four-hour Polkadot price analysis supports the bulls as the bulls have recovered the amount of price that corrected during the starting four hours of today’s trading session. The price levels have risen above yesterday’s price cap to continue the upwards trending line as the price level has reached $18.07. The bearish momentum intensified at the end of the last trading sessions, but now the bulls have taken the lead again. On the other hand, the moving average mentioned in the four-hour price chart stands at $18 as well, just below the price level.

Polkadot price analysis: Bullish stream continues to re-attempt $18.7 resistance 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility is seemingly increasing, as the Bollinger bands have expanded over a vast area, the Bollinger band indicator’s values have shifted as thus that now the upper value is $19.3 whereas the lower value is $14.4. The RSI score moved up to index 59 because of the upward wave continuing for the past few hours.

Polkadot price analysis conclusion

The one-day and four-hour Polkadot price analysis confirms a bullish market trend for the day. The DOT/USD value increased to $18.07 because of the continuous uptrend. The four-hour price chart displays green candlesticks as the bulls remained at lead during the past few hours. An increase in coin value is to be expected as the buying activity is constantly growing at present as the price nears the resistance present at the $18.7 mark.

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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