Polkadot price analysis: DOT continues to recover at a snail’s pace as the price touches $18

Polkadot price analysis DOT continues to recover at a snail s pace as the price touches

TL;DR Breakdown

  • The Polkadot price analysis is bullish.
  • Resistance for DOT is present at $18.5.
  • Support for DOT is present at $17.7.

The Polkadot price analysis is showing further improvement in the price today, as a very small green candlestick has appeared on the daily chart. Yesterday DOT slowly went past the $18.1 hurdle, and the coin is continuing the slow recovery for today as well. The trend line for the past five days is upward as the coin touched the support floor after falling continuously prior to reaching the $17.1 level. The previous bearish momentum had cast considerably negative effects on the coin value.

DOT/USD 1-day price chart: DOT continues sailing in the positive direction

The 1-day Polkadot price analysis indicates a bullish activity, which has been determining the price action for today as the price has increased up to $18.39 at the time of writing. The improvement is on the lesser side, which is why the coin is showing only a 0.89 percent increase in price over the last 24 hours, and the coin is still at a loss of 6.17 percent is observed over the past week, as the recoveries made during the last five days are marginal. The trend, though slow but is in the bullish direction, which is positive news for the buyers.

Polkadot price analysis: DOT continues to recover at a snail's pace as the price touches $18 1
DOT/USD 1-day price chart. Source: TradingView

The moving average (MA) is trading below the SMA 50 curve as it is present at the $18.4 mark. The 1-day price chart shows the Bollinger bands average at $20.3 above the price level and its lower and upper values at $24.7 and $16.4, respectively, representing the strongest resistance and support for DOT/USD. The Relative Strength Index (RSI) is trading at index 43, but the indicator is not hinting at any major development as it is hovering on a horizontal line.

Polkadot price analysis: Recent developments and further technical indications

The Polkadot price analysis showing 4-hours progress is favoring the bullish side as well, as the bulls are putting their efforts to avail any chance of recovery. The Polkadot value has increased to $18.3 after going through continuous but slow improvement during the last 12 hours.

Polkadot price analysis: DOT continues to recover at a snail's pace as the price touches $18 2
DOT/USD 4-hours price chart. Source: TradingView

The volatility is on the lower side on the 4-hour chart, with the upper limit of the Bollinger bands at the $18.6 mark and the lower limit at the $17.6 mark. The price is trading near the upper band. The RSI is on an almost horizontal curve on the hourly chart as well as it trades at index 53 above the centerline of the neutral zone.

Polkadot price analysis conclusion

The 1-day and 4-hour Polkadot price analysis is supporting the bullish side for today as, despite the price breaking downwards today, bulls have swiftly taken over, and they have dominated the market for the last 12 hours. The recovery though slow but is steady, and we expect DOT to continue upside down for the remainder of the day. However, if bulls want to set a strong bullish trend, then they must elevate the price level above $19.1.

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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