Polkadot price analysis: DOT/USD is up by 10 percent in the last 24 hours

Polkadot Price analysis
TL;DR Breakdown
  • Polkadot price analysis is bullish today
  • Polkadot prices are facing resistance at $10.0
  • DOT prices have set key support at $7.31

Polkadot price analysis shows that the prices are currently in an uptrend and are expected to continue rising in the near-term. However, prices are facing some resistance at $10.0.

Looking at the 4-hour chart, we can see that prices have been on an uptrend since mid-March. Prices reached a high of $8.85 on April 5 and have been consolidating around the $8.0 level since then.

The 50-day moving average (MA) has been trending upwards and is currently at $7.85 while the 200-day MA is at $6.79. These MAs are providing strong support to the prices and are likely to continue doing so in the near-term.

The Polkadot prices have been on a tear over the past few weeks and they have now set a new all-time high at $10.0. However, the prices are facing some resistance at this level and they have already started to pull back.

Polkadot price movement in the last 24 hours: Bulls gear up to push prices higher past key resistance at $10

Polkadot price analysis shows that the prices are currently in an uptrend and are expected to continue rising in the near-term. However, prices are facing some resistance at $10.0.

image 206DOT/USD 1-day price chart, source: TradingView

The Bollinger Bands on the 1-day Polkadot price analysis chart have started to expand, which indicates that volatility is rising. The RSI is currently at 68.1 and it looks like it has room to move higher.

On the downside, there is strong support at $7.31, which is the level of the confluence of the 50-day MA and the 200-day MA. As long as prices remain above this level, we can expect the uptrend to continue.

DOT/USD 4-hour price chart: Recent price movements

Looking at the 4-hour Polkadot price analysis chart, we can see that prices have been on an uptrend since mid-March. Prices reached a high of $8.85 on April 5 and have been consolidating around the $8.0 level since then.

Polkadot Price analysis

The RSI is currently above the 50 level, which indicates that the bulls are in control of the market. The MACD is also rising, which indicates that the prices are likely to continue rising in the near-term.

The DOT/USD pair is currently trading at $9.76 and is facing resistance at $10.0. If the prices can break out of this level, we can expect them to move higher towards the $12.0 level.

DOT/USD 1-day price chart, source: TradingViewThe DOT/USD pair is currently trading at $9.76 and is facing resistance at $10.0. If the prices can break out of this level, we can expect them to move higher towards the $12.0 level.

Polkadot price analysis conclusion

In conclusion, Polkadot prices are currently in an uptrend and are expected to continue rising in the near term. The key support levels to watch out for are $7.85 and $7.31. If the prices can break out of this level, we can expect them to move higher towards the $12.0 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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