logo
Ethereum
$ 1,220.85 1.05%
Solana
$ 38.69 5.39%
Dogecoin
$ 0.071599 8.84%
ApeCoin
$ 5.35 9.46%
Bitcoin
$ 21,034.00 1.91%
BNB
$ 238.05 0.77%

Polkadot price analysis: DOT/USD consolidates at $17.8 as bears have the upper hand

quantitatives ddhb fmlz k unsp

TL;DR Breakdown

  • Polkadot price analysis indicates a bearish trend
  • Support is present at $16.10
  • Polkadot’s current price is $17.44
Polkadot price analysis: DOT/USD consolidates at $17.8 as bears have the upper hand 1
Cryptocurrencies prices heatmap, source: Coin360

Polkadot price analysis shows a bearish trend for DOT/USD pair. The pair is expected to move downwards and reach the support level at $16.10 within the next 24 hours. Polkadot’s price has been hovering around the range of $16.40-$17.00 in the past few days. The current price is at $17.44 and is expected to move downwards in the next 24 hours.

Polkadot prices in the last week have shown a sideways trend, with the prices bouncing off the support and resistance levels. The current price is very close to the support level and a break out downwards is expected in the next 24 hours. The trading volume has however has increased by 22.24 percent, with Polkadot currently ranking position 12 in overall digital assets.

The next support level is at $16.10 and if the bears continue dominating, the prices may reach this level within the next 24 hours. On the other hand, if the bulls will try to recover the market, a breakout upwards is possible.

Polkadot price action in 1-day price chart: Bulls are stumbling to recapture the market

Price is retesting the $16 support on the 24-hour candlestick chart for Polkadot price analysis. A break below this could see the price fall to $15.50 next. Polkadot is currently ranked 12th in terms of overall market cap value for digital assets. The RSI is at 38.5, indicating that the market is still in overall bearish territory.

Polkadot price analysis: DOT/USD consolidates at $17.8 as bears have the upper hand 2
DOT/USD 1-day price chart, source: TradingView

The MACD has turned bearish and is currently below the signal line. The 24-hour volume has increased by 22.24 percent and is currently sitting at $4.8 million. The EMAs are also sloping downwards and are indicative of a continued bearish trend. Moreover, the Bollinger bands are indicating low market volatility as they seem to be contracting. The next support level for the Polkadot price analysis is at $15.50 and a break below this could see the prices fall to $14.00.

Polkadot price analysis on the 4-hour chart: DOT/USD in consolidation as $16.0 support is retested

The 4-hour chart for Polkadot price analysis shows that the prices are currently retesting the support level at $16.00. The MACD for DOT is now in the oversold zone, with a negative crossover and bearish divergences. However, the price is expected to test the $16 support over the next 24 hours for DOT.

The RSI is currently at 35.5 and could move downwards over the next few hours. The EMAs are sloping downwards and the prices could break below the support level in the next 24 hours. The Bollinger bands are also indicating low market volatility.

Polkadot price analysis: DOT/USD consolidates at $17.8 as bears have the upper hand 3
DOT/USD 4-hour price chart, source: TradingView

Polkadot price analysis conclusion

The overall market sentiment for Polkadot price analysis is bearish and the prices are expected to move downwards over the next 24 hours. The support level is at $16.10 and a break below this could see the prices fall to $15.50. The bulls would need to regain control over the market in order to push the prices upwards and break past the resistance levels.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

Related News

Hot Stories

Solana price analysis: SOL/USD declines to $39.16
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Ethereum price analysis: ETH/USD stagnates as sideways movement restricts buying near $1,225
Robinhood shares spike 14% on FTX rumored purchase report
Bitcoin price analysis: Rejection from $21k hints at more downside below $19k

Follow Us

Industry News

Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report
US adults turn strong hands, predict Bitcoin at $38,000 on average in 6 months
Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records