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Polkadot price analysis: DOT reattempts $19.5 as bulls continue ruling

Polkadot price analysis DOT recovers to after taking a dip Correction to follow

TL;DR Breakdown

  • The Polkadot price analysis is bullish.
  • Resistance for DOT is found at the $19.5 level.
  • Support for DOT is present at the $18 position.

The Polkadot price analysis is showing bullish results for the day as the price has improved further once again. The price has increased up to $19, continuing the uptrend that started yesterday. The short-term trending line is going upwards, which means that the bulls are in the leading position. However, selling pressure is also rising as the price has reached the resistance level of $19.

DOT/USD 1-day price chart: Bulls gain 3.2 percent more for DOT

The 1-day Polkadot price analysis chart is moving in a bullish direction today as well as DOT continues to move upwards. The DOT/USD price has now increased to the highest level of the week at $19. The coin has gained a value of 3.2 percent over the last 24 hours and has gained a value of five percent over the past week due to the bullish trend. The trading volume has increased by 3.97 percent, and the market cap has increased by 3.08 percent over the past 24 hours.

Polkadot price analysis: DOT reattempts $19.5 as bulls continue ruling 1
DOT/USD 1-day price chart. Source: TradingView

The volatility has been comparatively mild, which is why the upper Bollinger band value is at $19.5, representing resistance, and the lower Bollinger band value is at $16.2, representing support for DOT. The Relative Strength Index (RSI) score is moving slightly upwards as well because of the increase in price and is present at index 55 in the upper half of the neutral zone. The moving average (MA) is trading at the $18.2 mark.

Polkadot price analysis: Recent developments and further technical indications

The 4-hours Polkadot price analysis is showing bearish signs as the price has slightly decreased to the $19 level in the last four hours, despite the fact that the price breakout was upwards at the start of the trading session and the increase in price was significant. The price is covering the downward movement at present, but still, the power of balance is towards the bullish side. The price is far above the moving average value, i.e., $18.7.

Polkadot price analysis: DOT reattempts $19.5 as bulls continue ruling 2
DOT/USD 4-hours price chart. Source: TradingView

The upper Bollinger band is now at $19.3, whereas the lower Bollinger band is situated at the $18 level, hinting at low volatility for the price function. The RSI score is hovering at a horizontal curve at index 62, which is still quite a neutral score but on the higher side.

Polkadot price analysis conclusion

The 4-hours and the 1-day Polkadot price analysis shows that the DOT is struggling at the $19 level at the moment as the price has reached a resistance level. However, the bullish trend still prevails as the price is trading in the green as of now. We expect DOT will continue upside after correcting for a few hours.

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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