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Polkadot price analysis: Uptrend to continue as the price step to $9.22

Polkadot price analysis
TL;DR Breakdown
  • Polkadot price analysis is bullish today.
  • DOT/USD pair found support at $9.06.
  • The closest resistance is found at $10.

Polkadot price analysis shows that the market is in a consolidating phase. The DOT/USD pair is trading between $9.06 and $10. The next move will be determined by how the market reacts at this level. On the 4-hour chart, the DOT/USD pair is in a consolidating phase. The consolidation phase is likely to continue for some time as the market decides which direction to take next.

The market is expected to make a move soon as the consolidation phase is coming to an end. A break above $10 would signal that the bulls are in control and that the DOT/USD pair is likely to head higher. On the other hand, a break below $9.06 would signal that the bears are in control and that the DOT/USD pair is likely to head lower.

The MACD is bullish and is likely to remain so as long as the DOT/USD pair remains above $9.06. The RSI is currently trading at 63, which is neutral. Polkadot price analysis shows that the market is in a consolidating phase. The DOT/USD pair is trading between $9.06 and $10. The next move will be determined by how the market reacts at this level. On the 4-hour chart, the DOT/USD pair is in a consolidating phase.

DOT/USD 4-hour price analysis: Recent price developments

The 4-hour Polkadot price analysis chart shows that the DOT/USD pair has been in a consolidation phase since 15 April. The market has been trading between $9.06 and $10. The next move will be determined by how the market reacts at this level.

image 177
DOT/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is currently trading at 63, which is neutral. A break above $10 would signal that the bulls are in control and that the DOT/USD pair is likely to head higher. On the other hand, a break below $9.06 would signal that the bears are in control and that the DOT/USD pair is likely to head lower.

Polkadot price analysis for 1-day: DOT/USD prices set to continue rising

The Bollinger Bands on the 1-day Polkadot pice analysis chart are wide, indicating the coin is experiencing high volatility. The price is likely to remain volatile as long as it remains within the Bollinger bands.

Polkadot price analysis
DOT/USD 1-day price chart source: TradingView

Based on the current market conditions, there are two potential outcomes: The first outcome is that the market breaks out above $10 and heads higher. This would signal that the bulls are in control and that the DOT/USD pair is likely to head towards $12. The second outcome is that the market breaks below $9.06 and runs lower. This would signal that the bears are in control and that the DOT/USD pair is likely to head towards $8.

Polkadot Price Analysis Conclusion

Polkadot price analysis shows that the market is in a consolidating phase. The consolidation phase is likely to continue for some time as the market decides which direction to take next.

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.

Moses Kimathi

Moses Kimathi

Moses is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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