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Polkadot price analysis: DOT/USD prices trades in a sideways bearish bias trend

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TL;DR Breakdown

  • Polkadot price analysis shows a bearish trend
  • Polkadot prices have established key support at $18.60
  • The current resistance for DOT/USD is at $ 18.6
Polkadot price analysis: DOT/USD prices trades in a sideways bearish bias trend 1
Cryptocurrencies prices heatmap, source: Coin360

Polkadot price analysis shows that Polkadot prices have been trading sideways since the opening of today’s price chart, establishing key support at $ 18.60. The current resistance for DOT/USD is at $ 18.6 with a possibility of breaking out to the upside should the bulls manage to take control of the market. Polkadot prices have slightly slipped downwards by 0.54 percent, with trading volume and market capitalization both seeing a slight decline.DOT/USD price at the moment of writing is residing at 18.57 level.

DOT/USD prices are still in a downtrend as they have not been able to break past the $19.50 resistance in the last few days. The next key support for DOT/USD is at $16.00, which could be tested in the near future if the bears maintain control of the market. The Polkadot prices are showing mixed reactions and a neutral bias as the market trades sideways. A breakout to the upside is still possible if the bulls can take control of the market and push prices past $19.00.The next key support for DOT/USD is at $18.60, which could be tested in the near future if the bears maintain control of the market.

Polkadot price movement on a 1-day price chart: Bulls look to break out upwards to breach the struggling bears.

On the 1-day DOT/USD price chart, we can see that prices have been mostly trading sideways with a bearish bias in the last few days. Prices are currently facing resistance at $19.00, which is preventing prices from breaking out to the upside. Bulls must take control of the market and push prices past $19 to confirm a breakout to the up.

Polkadot price analysis: DOT/USD prices trades in a sideways bearish bias trend 2
DOT/USD 1-day price chart, source: TradingView

The MACD indicator is currently in the bearish zone as prices are trading below the signal line. The RSI indicator is also in the bearish zone and is indicating that the bears are currently in control of the market. The market volatility for DOT/USD prices is currently at a high level as the market looks to establish direction as this is evident from the Bollinger bands which are starting to widen. The 50-day EMAs are currently located below the 100-day EMAs, confirming that the bears are in control of the market.

Polkadot price analysis on a 4-hour price chart: Recent developments and further technical indications

The 4-hour DOT/USD price chart shows that prices have been trapped in a sideways trading range between the $18.60 support and the $19.00 resistance for the last few days. Prices dipped below the $19.00 support and found key support at $18.60, which has allowed prices to surge upwards slightly in the last few hours. The bulls need to take control of the market and push prices past $19.00 to confirm a breakout to the upside.

Polkadot price analysis: DOT/USD prices trades in a sideways bearish bias trend 3
DOT/USD 4-hour price chart, source: TradingView

The MACD indicator is crossing the signal line and is in the process of moving into the bullish zone. The RSI indicator is also in the bullish zone, confirming that the bulls are currently in control of the market. The market volatility for DOT/USD prices is currently at a high level as the market looks to establish direction as this is evident from the Bollinger bands which are starting to widen. The 50-day EMAs are currently located below the 100-day EMAs, confirming that the bears are in control of the market. Bears seem to be getting exhausted as the indicators on the 4-hour chart are giving bullish signals.

Polkadot price analysis conclusion

From analyzing the 1-day and 4-hour DOT/USD price charts, we can see that prices have been trading sideways with a bearish bias in the last few days. The bulls need to take control of the market and push prices past $19.00 to confirm a breakout to the upside. The MACD indicator is in the process of moving into the bullish zone, while the RSI indicator is in the bullish zone, indicating that the bulls are currently in control of the market. If the prices could break lower, however, the key support to look out for is at $18.60 which could be tested in the near future if the bears maintain control of the market.

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.

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