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Polkadot price analysis: DOT/USD pair set to spike higher in the next 24 hours

Polkadot price analysis

TL;DR Breakdown

  • Polkadot price analysis is bullish today.
  • DOT prices have increased by 5.54 percent
  • Current resistance for DOT prices is seen at the $20 level

Polkadot price analysis shows that the DOT/USD pair has increased by 5.54 percent today. The price is trading very close to the $20 level and looks set to break out to the upside soon. If prices can move above the $20 level, they will head towards the $22 level. On the downside, support for prices is seen at the $16 level.

On the downside, support for DOT prices is seen at the $16 level. This is followed by the $14 and $12 levels. Below these levels, prices are likely to find support at the $10 level.

From a technical standpoint, Polkadot price analysis looks poised for further gains in the near-term. Prices have been in a strong uptrend since March and the recent marketwide sell-off has not had much impact on DOT prices. The technical indicators also suggest that prices are likely to continue moving higher in the near-term. Consequently, we are bullish on DOT prices and expect them to move towards the $22 level in the near-term.

Polkadot price analysis: DOT gains value at $19.06 2DOT/USD 1-day price chart, source: TradingView

Looking at the daily Polkadot price analysis chart, we can see that prices have been in a strong uptrend over the past few months. After hitting a low of around $4 prices have increased steadily and are now trading just below the $20 level. The recent marketwide sell-off has not impacted DOT prices and has continued to move higher.

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

The Polkadot price analysis shows that the DOT/USD pair has increased by 5.54 percent today. The price is trading very close to the $20 level and looks set to break out to the upside soon. A move above the $20 level is likely to lead prices towards the $22 level. On the downside, price support is seen at the $16 level.

The RSI indicator is currently above the 60 level, showing that DOT prices are bullish territory. The MACD indicator is also moving higher and is close to entering positive territory. This suggests that DOT prices are likely to continue moving higher in the near term.

Polkadot price analysis: DOT gains value at $19.06 3

DOT/USD 4-hour price chart, source: TradingView

If the bulls continue to push prices higher, DOT could potentially rally towards $25. However, if the $20 resistance level proves to be too strong, prices could pull back and retest the $18 support level. A break below the $18 support level could see prices move lower towards the $17 level. The $16ossible levels of support include $15 and $14.

Polkadot price analysis: conclusion

Overall, the market sentiment for DOT is currently bullish, and prices are expected to continue to rise in the near-term as the project makes progress. However, if the $20 resistance level proves to be too strong, prices could pull back and retest the $18 support level.

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.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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