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Polkadot price analysis: Bullish momentum retrieves price back to $18.2 high

Polkadot price analysis Bullish momentum retrieves price back to high

TL;DR Breakdown

  • The Polkadot price analysis is bullish.
  • Resistance for DOT is present at the $18.9 level.
  • Support for DOT/USD is present at the $17.8 position.

The latest Polkadot price analysis is on the bullish side as the price has undergone a considerable recovery during the past 24-hours. Bulls are successfully continuing their lead as they are trying to secure the winning position on the price chart for the third day consecutively by increasing the coin value, as the most recent progress has also been bullish. This is a promising sign for cryptocurrency buyers, as the price is again touching the $18.2 mark after the recent uplift. Further recovery may also take place as the buying momentum intensifies at a continuous rate.

DOT/USD 1-day price chart: Price upgrades to $18.2 after bullish efforts

The daily Polkadot price analysis shows a bullish trend as the buying activity has been on the rise for the past 24-hours. Bullish momentum has taken the price above $18.1 resistance, as an upward wave dominates the market. As the bulls are in the driving seat, the price trends are going in favor of the buyers. The coin value has been enhanced up to the $18.2 mark. The price is at a higher point than its moving average (MA) value which is at $17.6. However, the SMA 20 is still trading below SMA 50 curve.

Polkadot price analysis: Bullish momentum retrieves price back to $18.2 high 1
DOT/USD 1-day price chart. Source: TradingView

The volatility is mild, which on the contrary, is not an encouraging hint for the buyers regarding the upcoming price trends. The upper limit of the Bollinger bands indicator is now resting at $19.04, while its lower limit is resting at $16.3. At the same time, the Bollinger bands indicator displays an average of $17.6 below the current price level. The relative strength index (RSI) has crossed above the centerline of the neutral zone and is trading at index 52, hinting at the buying activity in the market.

Polkadot price analysis: Recent developments and further technical indications

The four-hour Polkadot price analysis confirms an increasing trend as the price is covering range upwards from the start of the trading session as the green candlesticks indicate a rise in coin value. The bullish momentum has successfully rescued the price above the $18.2 margin, and it seems like the bulls are going to achieve their next target soon. Meanwhile, the moving average in the four-hour price chart is trading at 17.74 position and the SMA 20 just crossed above the SMA 50 curve, which is a further bullish indication.

Polkadot price analysis: Bullish momentum retrieves price back to $18.2 high 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility is rising as the Bollinger bands are diverging, which is a bearish indication of the upcoming price trends. The upper value of the Bollinger bands indicator is now at $0.072, whereas its lower value is at $0.0619. The RSI score has increased to 40.94 because of the latest upturn in the price.

The volatility is low, as the Bollinger bands indicate. The upper value of the Bollinger bands indicator is now at $18.3, representing the resistance for DOT, whereas its lower value is at $17, representing the support for DOT/USD. The RSI score has increased to 59 because of the latest upturn in the price.

Polkadot price analysis conclusion

The one-day and four-hour Polkadot price analysis suggests an upward trend for the cryptocurrency as bulls are in the leading position. The bulls have managed to enhance the coin value to an $18.2 high point. The hourly price chart displays green candlesticks for the price function of DOT/USD, which has increased during the past four hours as well.

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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