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Polkadot price analysis: DOT/USD set to spike higher in the next 24 hours

Polkadot price analysis

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 most recent Polkadot price analysis, the price is rising once again as the bullish momentum builds late at night. For the previous week, the price trend line has moved slightly upwards, showing that buying activity has improved and that the decline has been reversed somewhat; this is a major accomplishment for buyers in terms of a continuing downswing. The price is testing the resistance at $18.6, but so far has not been able to break through it. If the buyers manage to increase their pressure, we may see a breakout to the upside in the near future.

The DOT/USD pair is currently trading at the $18.62 level and is showing signs of further upward momentum. Support is found at the $16.9 level, while resistance is seen at $18.6. In order for the bullish trend to continue, the buyers will need to break through the resistance and hold above it. For now, it looks like the market may be range-bound as traders wait for a clear breakout direction.

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

The 1-day Polkadot price analysis is displaying indications of a bullish trend, with the price rising strongly throughout the day after declining previously. The bulls have had a favorable week so far, and at the moment they are in command. The price has advanced to $17.7 as a result of the bull momentum’s 4.8 percent value increase. The next resistance target is at $18.6, where buyers ran into some difficulty pushing the price higher yesterday. If the bulls can continue to exert pressure, we could see a breakout to the upside in the near future.

The DOT/USD pair is trading at $17.72 at the moment and is up 4.8 percent from the 24-hour low of $16.8. The bulls are currently in control, with the next resistance target being at $18.6. In order for the bullish trend to continue, the buyers will need to break through the resistance and hold above it. For now, it looks like the market may be range-bound as traders wait for a clear breakout direction.

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

The volatility seen in the market over the past few days has been quite high, reaching levels not seen since mid-March. This increase in volatility comes as the market awaits a breakout direction. The bulls have managed to push the price higher, but so far have been unable to break through the resistance at $18.6. If they can continue to increase their pressure, we may see a breakout to the upside in the near future.

Polkadot price analysis: Recent developments and further technical indications

The 4-hours Polkadot price analysis shows that the price has been bouncing between the $16.9 and $18.6 levels for most of the day. The buyers have been able to hold the support at $16.9, but have not been able to break through the resistance at $18.6. A breakout to the upside is needed in order for the bullish trend to continue.

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 RSI is currently at the 54 level, which indicates that the market is in neutral territory. A breakout to the upside is needed in order for the bulls to take control of the market.

Polkadot price analysis conclusion

The 1-day and 4-hour Polkadot price analysis reveals a lot of buying interest as the price has risen today, and the bullish camp has responded swiftly. The DOT/USD rate is presently sitting at $17.7 and is expected to rise further. Despite the fact that the market was extremely unhelpful to buyers in recent months DOT/USD is a good long-term buy.

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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