- The Polkadot price analysis is bullish.
- Resistance for DOT is present at the $18.9 level.
- DOT/USD is currently trading $18.91.
The most recent Polkadot price analysis is on the bullish side, with the value has recovered considerably in the last 24 hours. Bulls are continuing to maintain their advantage by attempting to secure the price chart for the third day in a row by increasing the coin’s value, as it stands now.
The intraday high for DOT/USD is currently at $18.9, and the bulls are making another attempt to cross this level and secure a daily close above it. If they succeed in doing so, then the next level of resistance would be found at $19.4, which is where the whales have placed their orders.
On the other hand, if the bears manage to push the price down and break below the support at $17.8, then we can expect a further decline towards the $16.5 level.
DOT/USD 1-day price chart: Price upgrades to $18.2 after bullish efforts
The daily chart for DOT/USD shows that the bulls have been making a strong case for themselves over the past few days, managing to push the price significantly higher. The RSI has also broken out of the oversold zone and is currently in bullish territory, which confirms that there is still room for the uptrend to continue.
DOT/USD 1-day price chart. Source: TradingView
The MACD indicator is also starting to trend higher, which confirms that the bulls are in control of the market momentum. The next target for the bulls would be to break past the resistance at $18.9 and secure a daily close above it.
If they are successful in doing so, then we can expect the price to rise further towards the $19.4 level. On the other hand, if the bears manage to push the price down and break below the support at $17.8, then we can expect a further decline towards the $16.5 level.
Polkadot price analysis: Recent developments
Looking at the DOT/USD 4-hour chart, we can see that the bulls have been able to make a strong comeback after facing some selling pressure around the $16.5 level. The price has since risen towards the $18.2 level, where it currently faces some resistance.
The RSI indicator is currently in bullish territory and is starting to show signs of divergence, which suggests that the bulls might be losing momentum.
The MACD indicator is also trending higher and is in positive territory, which suggests that the uptrend is still intact. If the bulls can break past the resistance at $18.2, then they might be able to push the price further higher towards the $19 level.
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.
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