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Polkadot price analysis: Dot is bullish at $17.7. Can bulls pierce through $18.6 resistance?

Polkadot price analysis DOT sinks below shedding another eight percent More correction ahead

TL;DR Breakdown

  • Polkadot price analysis shows a bullish trend.
  • Resistance for DOT is found at the $18.6 level.
  • Support for DOT is present at $16.9 position.

According to the latest Polkadot price analysis, the price is moving upwards once again as the bullish momentum intensifies late at night. The price trend line is slightly upwards for the last week, as bullish activity has comparatively improved and the downfall has been reversed to a limited extent which is a great achievement for the buyers as a continuous downfall was observed during the past few months. DOT price has reached $17.7, and the coin is currently testing the $17.8 resistance. The price is expected to break above the resistance level after correcting for a while.

DOT/USD 1-day price chart: DOT gains 4.8 percent as bulls lead

The 1-day Polkadot price analysis is showing signs of bullish activity as the price has increased considerably during the day after taking a dip previously. The past week has been comparatively acceptable for the bulls, and at the time, the bulls are in the leading position. The price has moved up to the $17.7 level as a result of the bullish momentum gaining 4.8 percent value overnight. The moving average (MA) value is also standing high as it is resting on the $17.2 position, just below the price level.

Polkadot price analysis: Dot is bullish at $17.7. Can bulls pierce through $18.6 resistance? 1
DOT/USD 1-day price chart. Source: TradingView

The volatility has decreased, which can be taken as a positive hint regarding future trends as the price is still in the lower price envelope. Moreover, the Bollinger bands Indicator shows an upper value at $19 and the lower value at $15.5, representing the support and resistance for DOT, respectively. The Relative Strength Index (RSI) score has increased towards the centerline of the neutral zone as well as it is trading at index 48 after the recent upgrade.

Polkadot price analysis: Recent developments and further technical indications

The 4-hours Polkadot price analysis indicates an increase in price after the return of the bullish side. The bullish momentum has resulted in the price going up to its current value, which is $17.7. However, the price has been corrected again during the last four hours. But the decrease is small, and the trend may reverse in favor of bulls soon as the bullish progression has been quite aggressive today. The moving average is far lower than the current price, i.e., $17.1, as the bulls have been largely in control during the day.

Polkadot price analysis: Dot is bullish at $17.7. Can bulls pierce through $18.6 resistance? 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility has been comparatively high, which is why the Bollinger bands average is now at $17.3. The upper and lower Bollinger bands values are as such; the upper value stands at $18.1, representing the resistance, while the lower value stands at $16.4, representing the support. The RSI score has increased to index 57, but the indicator’s curve has straightened horizontally because of the selling activity seen during the last four hours.

Polkadot price analysis conclusion

The 1-day and 4-hours Polkadot price analysis shows signs of bullish activity as the price has covered upward movement today, and the bullish side has reacted aggressively. The DOT/USD price is now resting at $17.7 and is expected to go up again. Although in the past month, the market has been quite unsupportive for the buyers, today, the buying momentum is on the rise once again.

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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