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Polkadot price analysis: Bulls drive the price to $17.4 after an upswing

Polkadot price analysis Bulls drive the price to after an upswing

TL;DR Breakdown

  • The Polkadot price analysis is bullish.
  • Resistance for DOT is found at the $18.1 level.
  • Support for DOT is present at $16.9 position.

The Polkadot price analysis is giving bullish signs for the day as the price has increased to $17.4 in the last 24 hours. The bulls have regained their momentum after bearing through successive losses. This way, they have stopped the BCH price from going below the $17.1 level by causing a shift in the trends. The rise in price can be expected as well as the support level is standing firm, but the bulls need a greater push to make an impact.

DOT/USD 1-day price chart: DOT price shows signs of recovery after a constant battle

The one-day Polkadot price analysis report is going in favor of the bulls, as the price has increased up to $17.4 today. There have been ongoing variations in the market trends, as the pressure is increasing from both the sellers and the buyers. These continual encounters have finally ended up with the bulls at the lead, as the price has covered upward movement. The price has also traveled above its moving average (MA) value which is settled at $17.3.

Polkadot price analysis: Bulls drive the price to $17.4 after an upswing 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is constantly high in the 1-day price analysis, which means that the future might bring favorable circumstances. The Bollinger bands are settled at the following levels; the upper band is at $19 representing resistance for DOT, while the lower band is at $15.8, representing the support for DOT. The RSI score has been going high as well, as it is now at index 47 near the center of the neutral zone.

Polkadot price analysis: Recent developments and further technical indications

The bulls are once again at the upper position according to the following four-hour Polkadot price analysis. Today’s uptrend has caused the price to move up to the $17.49 level as the cryptocurrency’s value increased. The moving average indicator is showing its value at $17.7, which is still higher than the coin value because of the bearish wins in the past week. Meanwhile, the Bollinger bands are making an average of $17.8 as well.

Polkadot price analysis: Bulls drive the price to $17.4 after an upswing 2
DOT/USD 4-hours price chart. Source: TradingView

The upper strand of the Bollinger bands indicators is at $18.6 now, while the lower strand is now touching $17.1. The volatility is decreasing at a slow pace because the area between the Bollinger bands is decreasing. The RSI score is going up because the bulls are at the lead, and it is 46 at the time of writing, hinting at the buying activity in the market.

Polkadot price analysis conclusion

The bulls are trying to make a comeback, as has been confirmed from the one-day and the fours Polkadot price analysis. There has been a constant battle between the bulls and the bears, and the bulls are finally at the upper hand now. The price has increased up to $17.4, which has cast a positive effect on the overall DOT market value. The support is still quite strong at $16.9, which might help the bulls in maintaining the lead in the future.

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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